Benchmark Reiterates “Hold” Rating for Weibo (NASDAQ:WB)

Weibo (NASDAQ:WB)‘s stock had its “hold” rating reiterated by Benchmark in a report issued on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Citigroup lifted their price target on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Nomura Securities raised Weibo to a “hold” rating in a research note on Monday, August 26th. Finally, Morgan Stanley dropped their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.23.

Weibo Trading Up 6.3 %

WB opened at $9.05 on Wednesday. Weibo has a one year low of $7.03 and a one year high of $12.47. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 7.07 and a beta of 0.24. The stock’s 50 day moving average price is $9.00 and its 200-day moving average price is $8.52.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.38 by $0.10. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. During the same quarter in the prior year, the company posted $0.42 EPS. Weibo’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Weibo will post 1.48 EPS for the current year.

Institutional Investors Weigh In On Weibo

Institutional investors have recently added to or reduced their stakes in the stock. Deltec Asset Management LLC acquired a new stake in Weibo in the second quarter valued at approximately $82,000. Seven Eight Capital LP acquired a new stake in shares of Weibo in the 2nd quarter worth $110,000. Creative Planning purchased a new position in Weibo during the 3rd quarter worth $112,000. Bayesian Capital Management LP acquired a new position in Weibo during the 1st quarter valued at about $123,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Weibo by 17.4% in 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 buying an additional 1,970 shares during the last quarter. Institutional investors own 68.77% of the company’s stock.

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.