Several other equities research analysts have also recently weighed in on the stock. Nomura set a $48.00 price objective on shares of Weibo and gave the company a “hold” rating in a research report on Wednesday, August 21st. Jefferies Financial Group began coverage on shares of Weibo in a research report on Monday, August 5th. They issued a “hold” rating and a $43.60 price objective for the company. ValuEngine upgraded shares of Weibo from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group upgraded shares of Weibo from a “neutral” rating to an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays set a $55.00 price objective on shares of Weibo and gave the company a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.73.
WB stock traded up $0.02 during trading on Wednesday, reaching $54.67. The stock had a trading volume of 2,296,500 shares, compared to its average volume of 2,141,146. The firm has a fifty day moving average price of $48.38 and a 200 day moving average price of $46.84. The company has a market capitalization of $11.78 billion, a P/E ratio of 21.69 and a beta of 2.23. Weibo has a 1-year low of $34.26 and a 1-year high of $74.68. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.44.
A number of institutional investors have recently added to or reduced their stakes in the stock. Banco Santander S.A. bought a new position in Weibo in the third quarter valued at approximately $15,663,000. Comgest Global Investors S.A.S. bought a new position in Weibo in the third quarter valued at approximately $3,108,000. Daiwa Securities Group Inc. bought a new position in Weibo in the third quarter valued at approximately $55,000. Pillar Pacific Capital Management LLC lifted its stake in Weibo by 0.9% in the third quarter. Pillar Pacific Capital Management LLC now owns 93,939 shares of the information services provider’s stock valued at $4,203,000 after buying an additional 881 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Weibo by 183.9% in the third quarter. California Public Employees Retirement System now owns 105,683 shares of the information services provider’s stock valued at $4,729,000 after buying an additional 68,456 shares in the last quarter. 25.94% of the stock is currently owned by institutional investors and hedge funds.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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