Weibo Corporation (WB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Weibo Corporation (NASDAQ:WB) posted its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02, MarketWatch Earnings reports. Weibo Corporation had a net margin of 23.22% and a return on equity of 24.45%. The company had revenue of $253.37 million during the quarter, compared to analysts’ expectations of $246.78 million. During the same period in the prior year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 72.5% on a year-over-year basis.

Shares of Weibo Corporation (NASDAQ:WB) traded up 1.54% during midday trading on Friday, hitting $89.68. 2,351,944 shares of the company’s stock were exchanged. The company has a 50-day moving average of $77.04 and a 200-day moving average of $63.74. Weibo Corporation has a 52 week low of $40.12 and a 52 week high of $89.95.

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale acquired a new position in shares of Weibo Corporation during the first quarter worth approximately $324,000. Castleark Management LLC bought a new stake in Weibo Corporation during the second quarter worth $110,000. Catamount Wealth Management acquired a new stake in shares of Weibo Corporation during the second quarter worth approximately $113,000. Alta Advisers Ltd raised its stake in shares of Weibo Corporation by 5.0% in the first quarter. Alta Advisers Ltd now owns 2,100 shares of the information services provider’s stock worth $110,000 after buying an additional 100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Weibo Corporation during the first quarter worth about $162,000. Institutional investors own 16.58% of the company’s stock.

A number of equities analysts have issued reports on the stock. Jefferies Group LLC dropped their price target on shares of Weibo Corporation from $105.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Weibo Corporation from a “hold” rating to a “strong-buy” rating and set a $95.00 price target on the stock in a research note on Tuesday. Barclays PLC set a $100.00 price target on shares of Weibo Corporation and gave the company an “overweight” rating in a research note on Friday, August 11th. Instinet restated a “buy” rating and issued a $102.00 price target (up previously from $91.00) on shares of Weibo Corporation in a research note on Friday, August 11th. Finally, BidaskClub upgraded shares of Weibo Corporation from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 16th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $79.06.

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About Weibo Corporation

Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services.

Earnings History for Weibo Corporation (NASDAQ:WB)

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