Weibo Corporation’s (WB) Buy Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Weibo Corporation (NASDAQ:WB) in a research note released on Thursday morning. Jefferies Group LLC currently has a $82.00 price target on the information services provider’s stock.

Several other analysts have also issued reports on WB. Benchmark Co. started coverage on Weibo Corporation in a report on Tuesday, April 18th. They set a buy rating and a $65.00 target price on the stock. TheStreet upgraded Weibo Corporation from a c rating to a b- rating in a report on Monday, April 17th. Zacks Investment Research upgraded Weibo Corporation from a hold rating to a buy rating and set a $61.00 target price on the stock in a report on Thursday, April 27th. Vetr lowered Weibo Corporation from a strong-buy rating to a buy rating and set a $65.50 target price on the stock. in a report on Monday, May 8th. Finally, T.H. Capital reiterated a buy rating and set a $70.00 target price (up previously from $60.00) on shares of Weibo Corporation in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $66.95.

Weibo Corporation (NASDAQ WB) traded up 3.01% during midday trading on Thursday, hitting $76.35. The stock had a trading volume of 1,119,485 shares. Weibo Corporation has a 52 week low of $32.19 and a 52 week high of $82.28. The stock has a 50-day moving average of $72.37 and a 200-day moving average of $59.95.

Weibo Corporation (NASDAQ:WB) last issued its quarterly earnings results on Tuesday, May 16th. The information services provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $199.20 million for the quarter, compared to analyst estimates of $188.29 million. Weibo Corporation had a return on equity of 20.00% and a net margin of 20.10%. The company’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. On average, equities research analysts predict that Weibo Corporation will post $1.51 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Alta Advisers Ltd increased its position in Weibo Corporation by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock valued at $110,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Weibo Corporation during the first quarter valued at approximately $162,000. Victory Capital Management Inc. increased its position in Weibo Corporation by 16.0% in the first quarter. Victory Capital Management Inc. now owns 3,894 shares of the information services provider’s stock valued at $203,000 after buying an additional 537 shares during the last quarter. Hilton Capital Management LLC purchased a new position in Weibo Corporation during the first quarter valued at approximately $206,000. Finally, Koch Industries Inc. purchased a new position in Weibo Corporation during the first quarter valued at approximately $248,000. Hedge funds and other institutional investors own 16.58% of the company’s stock.

About Weibo Corporation

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.