Brokerages Set Weibo Co. (NASDAQ:WB) Target Price at $10.23

Weibo Co. (NASDAQ:WB) has earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.23.

A number of equities analysts have recently issued reports on WB shares. Citigroup increased their price objective on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, Benchmark reissued a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Weibo by 60.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock worth $2,845,000 after buying an additional 105,780 shares during the last quarter. Citigroup Inc. boosted its stake in Weibo by 347.3% in the third quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after acquiring an additional 468,072 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Weibo during the 2nd quarter worth approximately $1,398,000. Krane Funds Advisors LLC raised its holdings in shares of Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after purchasing an additional 564,068 shares during the period. Finally, Polunin Capital Partners Ltd purchased a new position in Weibo in the third quarter valued at approximately $5,064,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Stock Down 1.7 %

Weibo stock opened at $9.12 on Friday. The company has a market capitalization of $2.14 billion, a PE ratio of 6.25 and a beta of 0.26. Weibo has a 12-month low of $7.03 and a 12-month high of $12.40. The firm’s fifty day moving average is $9.42 and its 200 day moving average is $8.72. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.