Citigroup Increases Weibo (NASDAQ:WB) Price Target to $12.00

Weibo (NASDAQ:WB) had its price objective increased by research analysts at Citigroup from $11.00 to $12.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Citigroup’s price target would suggest a potential upside of 11.11% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Morgan Stanley dropped their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Performance

NASDAQ:WB opened at $10.80 on Monday. The company has a market capitalization of $2.53 billion, a P/E ratio of 9.08, a P/E/G ratio of 1.67 and a beta of 0.22. The business has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $8.36. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. Weibo has a 1 year low of $7.03 and a 1 year high of $13.54.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock worth $33,675,000 after purchasing an additional 2,047,135 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Weibo during the 2nd quarter worth $1,398,000. Krane Funds Advisors LLC grew its position in Weibo by 17.4% in the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after acquiring an additional 564,068 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Weibo by 65.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider’s stock valued at $1,082,000 after acquiring an additional 46,898 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in Weibo by 47.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider’s stock valued at $531,000 after acquiring an additional 15,715 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, 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 enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.