StockNews.com Upgrades Weibo (NASDAQ:WB) to Buy

StockNews.com upgraded shares of Weibo (NASDAQ:WB) from a hold rating to a buy rating in a research note released on Friday.

Other research analysts have also issued reports about the company. Benchmark reissued a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley decreased their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Finally, Citigroup lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Weibo has an average rating of “Hold” and an average target price of $10.23.

Weibo Price Performance

Weibo stock opened at $9.82 on Friday. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.30 billion, a P/E ratio of 6.73 and a beta of 0.27. The firm has a fifty day moving average of $9.43 and a 200-day moving average of $8.50. Weibo has a 52-week low of $7.03 and a 52-week high of $12.40.

Institutional Investors Weigh In On Weibo

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of Weibo by 16.5% during the third quarter. Franklin Resources Inc. now owns 27,464 shares of the information services provider’s stock worth $266,000 after buying an additional 3,884 shares in the last quarter. Geode Capital Management LLC boosted its stake in Weibo by 78.1% during the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock valued at $2,252,000 after acquiring an additional 98,017 shares during the last quarter. Barclays PLC grew its holdings in Weibo by 13.8% during the 3rd quarter. Barclays PLC now owns 212,919 shares of the information services provider’s stock worth $2,146,000 after acquiring an additional 25,750 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Weibo in the 3rd quarter worth about $3,696,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Weibo in the 3rd quarter valued at about $322,000. 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.