ValuEngine lowered shares of Weibo (NASDAQ:WB) from a hold rating to a sell rating in a research report sent to investors on Friday.
WB has been the subject of several other reports. Zacks Investment Research upgraded Weibo from a hold rating to a strong-buy rating and set a $95.00 price target for the company in a research note on Tuesday, August 15th. Barclays set a $100.00 price target on Weibo and gave the company an overweight rating in a research note on Friday, August 11th. BidaskClub cut Weibo from a strong-buy rating to a buy rating in a research note on Saturday, October 7th. Instinet reiterated a buy rating and issued a $102.00 price target (up from $91.00) on shares of Weibo in a research note on Friday, August 11th. Finally, Jefferies Group cut their price target on Weibo from $105.00 to $82.00 and set a buy rating for the company in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Weibo has an average rating of Buy and an average price target of $93.39.
Weibo (NASDAQ WB) opened at $104.83 on Friday. Weibo has a 12-month low of $40.12 and a 12-month high of $123.00. The company has a market capitalization of $23,190.18, a P/E ratio of 88.84 and a beta of 2.54.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Weibo by 40.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,645 shares of the information services provider’s stock worth $708,000 after purchasing an additional 3,045 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in shares of Weibo in the 2nd quarter valued at $757,000. First Manhattan Co. bought a new position in shares of Weibo in the 2nd quarter valued at $741,000. Nicholas Investment Partners LP bought a new position in shares of Weibo in the 2nd quarter valued at $3,222,000. Finally, BT Investment Management Ltd bought a new position in shares of Weibo in the 2nd quarter valued at $63,749,000. Hedge funds and other institutional investors own 62.51% of the company’s stock.
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Weibo Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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