OTR Global began coverage on shares of Weibo (NASDAQ:WB) in a research note released on Monday, August 6th, Marketbeat reports. The firm issued a positive rating on the information services provider’s stock.
Several other research firms have also recently issued reports on WB. BidaskClub cut Weibo from a buy rating to a hold rating in a report on Tuesday, June 26th. ValuEngine cut Weibo from a buy rating to a hold rating in a report on Thursday, June 21st. Jefferies Financial Group reiterated a buy rating and issued a $145.00 price objective on shares of Weibo in a report on Tuesday, July 24th. Finally, Zacks Investment Research cut Weibo from a buy rating to a hold rating in a report on Wednesday, May 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $131.00.
Shares of Weibo stock traded up $0.30 on Monday, hitting $76.74. The company’s stock had a trading volume of 1,981,000 shares, compared to its average volume of 2,204,606. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61. Weibo has a 1 year low of $70.13 and a 1 year high of $142.12. The firm has a market cap of $17.72 billion, a PE ratio of 49.23 and a beta of 2.42.
A number of hedge funds and other institutional investors have recently made changes to their positions in WB. Artisan Partners Limited Partnership purchased a new stake in Weibo in the second quarter valued at approximately $109,350,000. BlackRock Inc. raised its position in Weibo by 32.8% in the first quarter. BlackRock Inc. now owns 4,319,410 shares of the information services provider’s stock valued at $516,344,000 after purchasing an additional 1,067,420 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Weibo by 683.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 258,400 shares of the information services provider’s stock valued at $30,890,000 after purchasing an additional 225,400 shares during the period. Point72 Asset Management L.P. raised its position in Weibo by 898.8% in the second quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock valued at $22,074,000 after purchasing an additional 223,790 shares during the period. Finally, Barings LLC raised its position in Weibo by 6,816.4% in the first quarter. Barings LLC now owns 221,256 shares of the information services provider’s stock valued at $26,449,000 after purchasing an additional 218,057 shares during the period. 27.33% of the stock is currently owned by institutional investors.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through 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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