Citigroup Boosts Weibo (NASDAQ:WB) Price Target to $12.00

Weibo (NASDAQ:WB) had its price objective lifted by Citigroup from $11.00 to $12.00 in a research note released on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Weibo from $8.00 to $7.50 and set an underweight rating for the company in a report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a hold rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Weibo currently has an average rating of Hold and a consensus price target of $10.23.

Weibo Price Performance

Shares of WB opened at $10.60 on Monday. Weibo has a 1-year low of $7.03 and a 1-year high of $13.54. The stock has a market cap of $2.48 billion, a PE ratio of 8.93, a P/E/G ratio of 1.67 and a beta of 0.22. The firm has a 50-day simple moving average of $7.92 and a two-hundred day simple moving average of $8.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The business had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. During the same period last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts forecast that Weibo will post 1.48 EPS for the current year.

Institutional Trading of Weibo

Several institutional investors have recently modified their holdings of the stock. Edmond DE Rothschild Holding S.A. lifted its position in shares of Weibo by 4.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock worth $1,222,000 after buying an additional 6,000 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Weibo by 21.5% in the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after acquiring an additional 9,143 shares during the period. Deltec Asset Management LLC acquired a new position in shares of Weibo in the 2nd quarter valued at $82,000. Bayesian Capital Management LP acquired a new position in shares of Weibo in the 1st quarter valued at $123,000. Finally, Seven Eight Capital LP acquired a new position in shares of Weibo in the 2nd quarter valued at $110,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.