Weibo Corporation (WB) Price Target Raised to $120.00

Weibo Corporation (NASDAQ:WB) had its price objective raised by Barclays PLC from $100.00 to $120.00 in a research note published on Tuesday morning, Marketbeat.com reports. The firm currently has an overweight rating on the information services provider’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Weibo Corporation from a hold rating to a buy rating and set a $118.00 price objective for the company in a report on Tuesday. BidaskClub upgraded shares of Weibo Corporation from a hold rating to a buy rating in a report on Thursday, November 9th. Benchmark Co. reduced their target price on shares of Weibo Corporation from $110.00 to $95.00 and set a buy rating for the company in a report on Wednesday, November 8th. Citigroup Inc. restated a buy rating and set a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a research note on Thursday, September 14th. Finally, Instinet restated a buy rating and set a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Ten equities research analysts have rated the stock with a buy rating, Weibo Corporation presently has a consensus rating of Buy and an average price target of $93.39.

Weibo Corporation (NASDAQ WB) traded down $1.99 during trading hours on Tuesday, hitting $115.73. 2,297,250 shares of the stock were exchanged, compared to its average volume of 2,034,460. The stock has a market cap of $25,740.00, a P/E ratio of 95.09 and a beta of 2.47. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $118.65.

Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings data on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Weibo Corporation had a net margin of 26.85% and a return on equity of 30.00%. The firm had revenue of $320.00 million for the quarter, compared to analysts’ expectations of $297.20 million. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s quarterly revenue was up 80.9% on a year-over-year basis. analysts predict that Weibo Corporation will post 1.49 earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Weibo Corporation by 40.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock worth $708,000 after acquiring an additional 3,045 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new position in shares of Weibo Corporation in the second quarter worth about $757,000. First Manhattan Co. acquired a new position in shares of Weibo Corporation in the second quarter worth about $741,000. Nicholas Investment Partners LP acquired a new position in shares of Weibo Corporation in the second quarter worth about $3,222,000. Finally, BT Investment Management Ltd acquired a new position in shares of Weibo Corporation in the second quarter worth about $63,749,000. 19.54% of the stock is owned by hedge funds and other institutional investors.

Weibo Corporation Company Profile

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

Analyst Recommendations for Weibo Corporation (NASDAQ:WB)

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