Weibo (NASDAQ:WB) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Weibo (NASDAQ:WB) from a buy rating to a hold rating in a report released on Friday morning.

WB has been the subject of a number of other reports. Morgan Stanley decreased their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, Citigroup raised their target price on Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Trading Down 7.0 %

WB stock traded down $0.65 during trading on Friday, reaching $8.62. 2,360,340 shares of the stock traded hands, compared to its average volume of 2,039,744. The firm has a market capitalization of $2.02 billion, a PE ratio of 6.73 and a beta of 0.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The business’s 50 day moving average price is $8.88 and its 200-day moving average price is $8.53. Weibo has a 52-week low of $7.03 and a 52-week high of $12.54.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The business had revenue of $437.90 million during the quarter, compared to analysts’ expectations of $437.97 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Weibo will post 1.48 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Deltec Asset Management LLC acquired a new position in Weibo in the second quarter worth about $82,000. Seven Eight Capital LP bought a new stake in shares of Weibo in the 2nd quarter valued at approximately $110,000. Creative Planning acquired a new stake in shares of Weibo during the third quarter worth $112,000. Bayesian Capital Management LP bought a new position in Weibo in the first quarter worth about $123,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Weibo by 17.4% during 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 last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Company Profile

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.