Stocks of Weibo Corporation (NASDAQ:WB) traded higher last session on Wall Street, up 2.54% to $15.75.
According to the data, Weibo Corporation (NASDAQ:WB) has 28 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $28.00 and a low of $14.50, we find $21.00. Given the previous closing price of $15.36, this indicates a potential upside of 36.72 percent. WB stock price is now 12.83% away from the 50-day moving average and -1.09% away from the 200-day moving average. The market capitalization of the company currently stands at $3.63B.
A total of 8 analysts have issued a hold rating and 18 have given it a buy rating. Brokers who have rated the stock have averaged $21.24 as their price target over the next twelve months.
With the price target reduced from $33 to $15.50, UBS Downgraded its rating from Buy to Neutral for Weibo Corporation (NASDAQ: WB).
A total of 6.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WB stock. A new stake in Weibo Corporation shares was purchased by MAPLE ROCK CAPITAL PARTNERS INC. during the first quarter worth $44,647,000. NORGES BANK invested $32,253,000 in shares of WB during the first quarter. In the first quarter, ACADIAN ASSET MANAGEMENT LLC acquired a new stake in Weibo Corporation valued at approximately $25,989,000. PRUDENTIAL PLC acquired a new stake in WB for approximately $10,101,000. SEATOWN HOLDINGS PTE. LTD. purchased a new stake in WB valued at around $5,513,000 in the second quarter. In total, there are 294 active investors with 39.50% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $15.36 for Weibo Corporation (NASDAQ: WB). During the past 12 months, Weibo Corporation has had a low of $9.42 and a high of $24.04. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.10, and a quick ratio of 4.10. The fifty day moving average price for WB is $14.38 and a two-hundred day moving average price translates $16.84 for the stock.
The latest earnings results from Weibo Corporation (NASDAQ: WB) was released for Mar, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.43 by 0.04. This compares to -$0.31 EPS in the same period last year. The net profit margin was 14.40% and return on equity was 7.60% for WB. The company reported revenue of $413.78 million for the quarter, compared to $484.62 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -14.62 percent. For the current quarter, analysts expect WB to generate $442.68M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/26/2023. Investors who held shares on 06/26/2023 were paid a $0.85 dividend.
Weibo Corporation(WB) Company Profile
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. It also provides advertising and marketing solutions, such as social display advertisements; and promoted marketing offerings, such as Fans Headline and Weibo Express promoted feeds, as well as promoted trends and search products that appear alongside user’s trends discovery and search behaviors. In addition, the company offers products, such as trends, search, video/live streaming, and editing tools; content customization, copyright contents pooling, and user interaction development; and search list recommendation, trends list recommendation, and Weibo app opening advertisements. Further, it provides back-end management, traffic support, and product solutions to MCNs, unions, and e-commerce partners; open application platform for other app developers that allows users to log into third-party applications with their Weibo account for sharing third-party content on its platform; and Weibo Wallet, a product that enables platform partners to conduct interest generation activities on Weibo, such as handing out red envelops and coupons. The company was formerly known as T.CN Corporation and changed its name to Weibo Corporation in 2012. The company was founded in 2009 and is headquartered in Beijing, China. Weibo Corporation operates as a subsidiary of Sina Corporation.
