Weibo (NASDAQ:WB) Upgraded at StockNews.com

StockNews.com upgraded shares of Weibo (NASDAQ:WB) from a hold rating to a buy rating in a research report sent to investors on Friday.

WB has been the topic of a number of other research reports. Benchmark reissued a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. Nomura Securities raised Weibo to a “hold” rating in a research note on Monday, August 26th. Citigroup raised their price objective on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Morgan Stanley decreased their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Weibo has a consensus rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Up 2.3 %

Weibo stock opened at $9.82 on Friday. Weibo has a 1-year low of $7.03 and a 1-year high of $12.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. The stock’s 50 day moving average price is $9.43 and its 200 day moving average price is $8.50. The company has a market cap of $2.30 billion, a PE ratio of 6.73 and a beta of 0.27.

Institutional Investors Weigh In On Weibo

A number of hedge funds and other institutional investors have recently made changes to their positions in WB. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Weibo by 17.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,261 shares of the information services provider’s stock valued at $134,000 after purchasing an additional 1,970 shares during the period. Franklin Resources Inc. grew its stake in shares of Weibo by 16.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock valued at $266,000 after buying an additional 3,884 shares during the period. State Street Corp grew its stake in shares of Weibo by 0.7% during the 3rd quarter. State Street Corp now owns 931,749 shares of the information services provider’s stock valued at $9,392,000 after buying an additional 6,369 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Weibo by 22.8% during the 3rd quarter. Quadrature Capital Ltd now owns 40,464 shares of the information services provider’s stock worth $408,000 after buying an additional 7,508 shares during the last quarter. Finally, SG Americas Securities LLC raised its position 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 worth $397,000 after buying an additional 9,143 shares during the period. 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, 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.