CLSA cuts Weibo (NASDAQ:WB) price target to $42.70



Weibo (NASDAQ:WB – Get a rating) had its price target lowered by CLSA from $45.00 to $42.70 in a research note released to investors on Wednesday, reports The Fly. CLSA’s price target would suggest a potential upside of 98.60% from the current share price.

WB has been the subject of several other reports. UBS Group moved Weibo shares from a “buy” rating to a “neutral” rating and lowered its price target for the company from $64.00 to $27.80 in a Friday, March 11 report. . Benchmark cut its price target on Weibo shares from $70.00 to $56.00 and set a “buy” rating for the company in a Friday, March 4 report. StockNews.com moved Weibo shares from a “hold” rating to a “buy” rating in a Wednesday, May 11 report. Goldman Sachs Group assumed Weibo stock coverage in a report on Sunday, April 10. They set a “holding” rating and a target price of $37.50 for the company. Finally, JPMorgan Chase & Co. cut its price target on Weibo shares from $32.00 to $24.00 in a Monday, March 14 report. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $44.20.

NASDAQ WB shares opened at $21.50 on Wednesday. The company has a debt ratio of 0.42, a quick ratio of 2.22 and a current ratio of 2.22. The company’s 50-day moving average price is $23.32 and its 200-day moving average price is $30.29. Weibo has a 52-week low of $18.62 and a 52-week high of $64.70. The company has a market capitalization of $5.09 billion, a PE ratio of 11.62, a P/E/G ratio of 0.70 and a beta of 0.88.

Weibo Inc (NASDAQ:WB – Get Rating) last released its quarterly earnings data on Thursday, March 3. The information services provider reported earnings per share of $0.50 for the quarter, missing the consensus estimate of $0.75 per ($0.25). Weibo had a net margin of 18.98% and a return on equity of 13.38%. The company posted revenue of $616.30 million for the quarter, compared to $607.41 million expected by analysts. In the same period a year earlier, the company earned earnings per share of $0.13. The company’s revenue for the quarter increased 20.0% year over year. On average, analysts expect Weibo to post 2.43 earnings per share for the current fiscal year.

Large investors have recently changed their stock holdings. Parallel Advisors LLC increased its position in Weibo shares by 331.3% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the information services provider worth $26,000 after acquiring 636 additional shares in the last quarter. Advisor Group Holdings Inc. increased its position in Weibo by 88.9% during the first quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider valued at $35,000 after buying 651 additional shares in the last quarter. Eaton Vance Management increased its position in Weibo by 56.0% during the third quarter. Eaton Vance Management now owns 780 shares of the information services provider valued at $37,000 after buying an additional 280 shares in the last quarter. Zullo Investment Group Inc. bought a new position in Weibo during the fourth quarter worth $40,000. Finally, Signaturefd LLC increased its position in Weibo by 102.3% during the fourth quarter. Signaturefd LLC now owns 1,384 shares of the information services provider valued at $43,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s shares.

About Weibo (Get an assessment)

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute and discover 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 allow its users to express themselves on its platform; and social products to promote social interaction among users on its platform.

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