Weibo (NASDAQ:WB) Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Weibo (NASDAQ:WB) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other brokerages have also issued reports on WB. Morgan Stanley lowered their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Citigroup lifted their price objective on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Finally, Nomura Securities raised shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Weibo has an average rating of “Hold” and a consensus target price of $10.23.

Weibo Stock Performance

Weibo stock opened at $9.09 on Thursday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 1.53 and a beta of 0.23. The company’s 50-day moving average is $8.49 and its 200 day moving average is $8.45. Weibo has a 1-year low of $7.03 and a 1-year high of $12.65. 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 data on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. Weibo’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. Research analysts forecast that Weibo will post 1.48 EPS for the current year.

Hedge Funds Weigh In On Weibo

Institutional investors and hedge funds have recently bought and sold shares of the company. Deltec Asset Management LLC acquired a new position in shares of Weibo during the second quarter valued at about $82,000. Seven Eight Capital LP acquired a new position in Weibo during the 2nd quarter valued at approximately $110,000. Creative Planning acquired a new position in Weibo during the 3rd quarter valued at approximately $112,000. Bayesian Capital Management LP purchased a new stake in shares of Weibo during the first quarter valued at $123,000. Finally, Diversified Trust Co acquired a new position in shares of Weibo in the 3rd quarter valued at $194,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

Weibo Company Profile

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.