Weibo (NASDAQ:WB) Receives Neutral Rating from The Goldman Sachs Group

Weibo (NASDAQ:WB)‘s stock had its “neutral” rating reissued by equities research analysts at The Goldman Sachs Group in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $10.60 price objective on the information services provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 11.58% from the stock’s current price.

A number of other analysts also recently issued reports on WB. Bank of America downgraded shares of Weibo from a “buy” rating to an “underperform” rating and dropped their price target for the company from $19.50 to $10.00 in a report on Thursday, January 11th. UBS Group raised Weibo from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $12.90 to $11.50 in a research note on Tuesday, March 19th. HSBC lowered their target price on shares of Weibo from $13.60 to $9.80 and set a “hold” rating on the stock in a research note on Friday, March 15th. Finally, StockNews.com cut Weibo from a “buy” rating to a “hold” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.98.

Weibo Trading Up 4.1 %

Weibo stock opened at $9.50 on Thursday. Weibo has a 12 month low of $7.84 and a 12 month high of $21.58. The business’s fifty day simple moving average is $8.96 and its two-hundred day simple moving average is $10.44. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 1.38 and a beta of 0.43. The company has a current ratio of 2.51, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

Hedge Funds Weigh In On Weibo

Institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its position in shares of Weibo by 1,360.0% during the third quarter. UBS Group AG now owns 2,268,124 shares of the information services provider’s stock worth $28,442,000 after buying an additional 2,112,773 shares during the period. Quadrature Capital Ltd increased its holdings in shares of Weibo by 38.2% in the 3rd quarter. Quadrature Capital Ltd now owns 32,887 shares of the information services provider’s stock valued at $413,000 after acquiring an additional 9,093 shares during the period. SeaTown Holdings Pte. Ltd. raised its holdings in shares of Weibo by 75.0% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 350,000 shares of the information services provider’s stock valued at $4,389,000 after buying an additional 150,000 shares during the last quarter. Aviva PLC raised its stake in Weibo by 6.8% during the 3rd quarter. Aviva PLC now owns 47,259 shares of the information services provider’s stock valued at $593,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Weibo during the third quarter worth $1,181,000. 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.