Todays Report: Today: Weibo Corp. (WB) PT Set at $60.00 by Jefferies Group

Today: Weibo Corp. (WB) PT Set at $60.00 by Jefferies Group

Jefferies Group set a $60.00 price objective on Weibo Corp. (NASDAQ:WB) in a report issued on Tuesday. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup Inc. initiated coverage on Weibo Corp. in a report on Friday, August 5th. They issued a buy rating for the company. JPMorgan Chase & Co. initiated coverage on Weibo Corp. in a report on Wednesday, August 31st. They issued an overweight rating and a $70.00 price objective for the company. Zacks Investment Research upgraded Weibo Corp. from a hold rating to a buy rating and set a $48.00 price objective for the company in a report on Saturday, August 13th. Piper Jaffray Cos. reiterated an overweight rating and issued a $43.00 price objective on shares of Weibo Corp. in a report on Thursday, August 11th. Finally, T.H. Capital increased their price objective on Weibo Corp. from $38.00 to $60.00 and gave the stock a buy rating in a report on Friday, October 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $49.29.

Shares of Weibo Corp. (NASDAQ:WB) opened at 49.05 on Tuesday. The company’s 50-day moving average price is $0.00 and its 200 day moving average price is $0.00. Weibo Corp. has a one year low of $12.09 and a one year high of $55.93.

Weibo Corp. (NASDAQ:WB) last issued its earnings results on Monday, November 21st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company earned $176.90 million during the quarter, compared to analysts’ expectations of $173.19 million. Weibo Corp. had a return on equity of 12.79% and a net margin of 14.22%. Weibo Corp.’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, analysts expect that Weibo Corp. will post $0.72 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WB. State of Wisconsin Investment Board raised its position in Weibo Corp. by 66.6% in the third quarter. State of Wisconsin Investment Board now owns 164,615 shares of the company’s stock worth $8,254,000 after buying an additional 65,821 shares during the period. Bank of New York Mellon Corp bought a new position in Weibo Corp. during the second quarter worth $4,130,000. Acadian Asset Management LLC bought a new position in Weibo Corp. during the second quarter worth $13,896,000. Toronto Dominion Bank bought a new position in Weibo Corp. during the second quarter worth $2,426,000. Finally, BARING ASSET MANAGEMENT Ltd bought a new position in Weibo Corp. during the second quarter worth $7,102,000. 16.83% of the stock is owned by institutional investors.

About Weibo Corp.

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