Barclays PLC Increases Weibo Corporation (WB) Price Target to $120.00

Weibo Corporation (NASDAQ:WB) had its target price boosted by Barclays PLC from $100.00 to $120.00 in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm currently has an overweight rating on the information services provider’s stock.

A number of other equities research analysts also recently weighed in on WB. Zacks Investment Research downgraded Weibo Corporation from a strong-buy rating to a hold rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a buy rating and issued a $82.00 price target on shares of Weibo Corporation in a report on Thursday, July 27th. Instinet reaffirmed a buy rating and issued a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a report on Friday, August 11th. Citigroup Inc. reaffirmed a buy rating and issued a $126.00 price target (up previously from $102.00) on shares of Weibo Corporation in a report on Thursday, September 14th. Finally, BidaskClub cut Weibo Corporation from a strong-buy rating to a buy rating in a report on Saturday, October 7th. Ten research analysts have rated the stock with a buy rating, Weibo Corporation presently has a consensus rating of Buy and a consensus price target of $93.39.

Weibo Corporation (NASDAQ WB) traded down $1.99 on Tuesday, reaching $115.73. The company’s stock had a trading volume of 2,296,500 shares, compared to its average volume of 2,034,460. The firm has a market capitalization of $25,740.00, a P/E ratio of 95.09 and a beta of 2.47. Weibo Corporation has a 12-month low of $40.12 and a 12-month high of $118.65.

Weibo Corporation (NASDAQ:WB) last released its earnings results on Tuesday, November 7th. The information services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $320.00 million during the quarter, compared to the consensus estimate of $297.20 million. Weibo Corporation had a return on equity of 30.00% and a net margin of 26.85%. The firm’s revenue for the quarter was up 80.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. analysts forecast that Weibo Corporation will post 1.49 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc increased its stake in shares of Weibo Corporation by 9,900.0% in the third quarter. NEXT Financial Group Inc now owns 1,000 shares of the information services provider’s stock worth $100,000 after acquiring an additional 990 shares during the last quarter. YorkBridge Wealth Partners LLC acquired a new position in shares of Weibo Corporation in the third quarter worth $105,000. Risk Paradigm Group LLC acquired a new position in shares of Weibo Corporation in the third quarter worth $109,000. Castleark Management LLC acquired a new position in shares of Weibo Corporation in the second quarter worth $110,000. Finally, Catamount Wealth Management acquired a new position in shares of Weibo Corporation in the second quarter worth $113,000. 19.54% of the stock is currently owned by institutional investors and hedge funds.

Weibo Corporation Company Profile

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.

Analyst Recommendations for Weibo Corporation (NASDAQ:WB)

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