Weibo Co. (NASDAQ:WB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Weibo Co. (NASDAQ:WB) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.23.

Several research analysts have issued reports on the company. StockNews.com raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Morgan Stanley dropped their price objective on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Benchmark reaffirmed a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. Citigroup increased their price target 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. Finally, Nomura Securities raised shares of Weibo to a “hold” rating in a research report on Monday, August 26th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WB. Acadian Asset Management LLC boosted its stake in Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after purchasing an additional 1,634,230 shares during the period. Krane Funds Advisors LLC boosted its position in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after acquiring an additional 564,068 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Weibo by 64.1% during the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock valued at $10,056,000 after acquiring an additional 511,248 shares in the last quarter. Polunin Capital Partners Ltd bought a new stake in Weibo in the 3rd quarter valued at $5,064,000. Finally, Citigroup Inc. lifted its stake in Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after purchasing an additional 468,072 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

Weibo Stock Performance

WB stock opened at $10.36 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.57 and a quick ratio of 3.57. Weibo has a 1 year low of $7.03 and a 1 year high of $12.40. The company has a market cap of $2.43 billion, a P/E ratio of 7.10 and a beta of 0.27. The stock’s fifty day moving average price is $9.38 and its 200-day moving average price is $8.56.

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.