First Shanghai lowers Weibo Corporation [WB] rating to Hold and sets price target at $44.65

First Shanghai Securities took its Weibo Corporation [NASDAQ:WB]‎ rating to the equivalent of Hold ‎from Buy, and the price target to $44.65, ‎‎in a research note dated December 31, 2020. That figure ‎represents around a 8.85% premium ‎from ‎where the company’s shares closed on Wednesday.‎ Other ‎analysts also revised their coverage, with CLSA’s analysts upgrading the shares from “an ‎Outperform” ‎rating to “a Buy” rating in a research note to investors issued in late September. ‎Meanwhile, Barclays ‎had lowered its rating on WB to “an Equal weight” from the earlier “an ‎Overweight”, in a research note ‎produced for clients April 22, 2020. In addition, there was a ‎downgrade from CLSA on November 15, ‎‎2019. The rater changed WB from “a Buy” to “an ‎Outperform”.

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Is Weibo Corporation [NASDAQ:WB] a Good Buy Right ‎Now?

It should be noted that WB ‎technical indicators for short, intermediate as well as long term ‎progress have placed an overall ‎average of 40% as Buy. The average signal changed from 100% Buy in ‎the last week and compares with ‎‎80% Buy in the past month. Data from Weibo Corporation’s Trend ‎Spotter indicated that the signals ‎were Weakest. The stock current average is 1.55 million shares in the ‎past 20 days and the short term ‎average signal indicates a Hold. In the last 50 days, the average trading ‎volume was 1.27 million shares ‎while the medium term average advocated for 50% Buy. The average ‎long-term signal stands at 100% ‎Buy and the 100-day average volume stands at 1.28 million shares.‎‎

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WB Price Performance

On Wall Street, Weibo Corporation [NASDAQ:WB] ‎finished ‎Wednesday’s session up 3.59% at $41.02. The stock went up to $41.20 at the same session ‎while its ‎lowest single day price was $39.22. In the last five days, it saw a fall of about -10.71%, ‎Weibo ‎Corporation shares dropped by almost -11.50% since the beginning of the year. However, the ‎share ‎price has dropped to as low as -21.61% below its one year high. On 01/13/20, the company ‎shares ‎recorded $52.33, the highest single-day price it has got to in the last 52-weeks and a 52-week ‎low was ‎seen on 05/29/20, the same year at $28.93. The company’s shares have declined by -11.50% in ‎the past ‎year. The 50-day SMA achieved is $42.93 while the 200-day SMA is $37.10. Volume dropped to ‎‎2.29 ‎million from 3.48 million in the previous session.‎‎

Weibo Corporation [WB] Valuation ‎Measures

Notably, Weibo Corporation [WB] stock can ‎be classified as a good candidate in the ‎listing of underestimated low-priced Internet Content & ‎Information companies to purchase soonest ‎possible with the prevailing 12-month PE ratio of 19.30. ‎The measure means the stock is exchanging at ‎a discount as compared to the 31.30x trailing earnings ‎of the industry. It can be helpful for investors to ‎consider historical price-sales ratio, more specifically, a ‎‎5.79 PS value ratio is reported for the last one ‎year of reported earnings. That is higher than the ‎industry average of 4.30 which means WB serve an ‎attractive investment opportunity compared to its ‎competitors.‎‎

WB Stock Support And Resistance ‎Levels

On the 24-hour scale, the immediate backing is ‎perceived around 39.76 level, and in case ‎of violation of this particular level, it will cause more drop to ‎‎38.50 level. On the upper level, 42.46 is still ‎the key resistance. The stock may increase to the ‎subsequent resistance at 41.74. The Relative ‎Strength Index (RSI) pinned on the 14-day chart is 44.39, ‎implying a neutral technical stance while the ‎MACD stands at -3.28, meaning price will decrease in the ‎next trading period. Percent R indicator ‎moved to 60.80%, implying low price movement. Stochastic %K ‎at 24.76% suggest selling the stock.‎‎‎

What is the short interest in Weibo Corporation?

Short interest in the Weibo ‎Corporation ‎stock has surged, increasing by 0.6 million shares to total 9.62 million shares on Dec 14, ‎‎2020. The ‎interest had seen shares on Nov 12, 2020 stand at 10.22 million, data from Yahoo Finance ‎shows. The ‎decrease of -6.24% suggests the stock saw some decreased bullish sentiment. ‎‎

Weibo ‎Corporation’s Biggest Shareholders: Who Owns Weibo Corporation [WB]?

Filings by ‎Alibaba ‎Group Holding Ltd. showed that the firm now holds a total of 9,000,000 shares or roughly 7.22% ‎of the ‎outstanding WB shares. This means their shares have reduced by 0 from the 9,000,000 the ‎investor ‎reportedly held in its prior 13-F filing. With the conclusion of the sale, Invesco Hong Kong Ltd. ‎updated ‎stake is worth $335,472,816. Details in the latest 13F filings reveal that Schroder ‎Investment ‎Management disposed off their -7.14% stake valued at $235,764,802 while Wells Capital ‎Management, ‎Inc. added theirs at $146,674,466. During the last quarter, Schroder Investment ‎Management ‎liquidated -429,288 of its shares in Weibo Corporation while Wells Capital Management, ‎Inc. bought ‎‎238,421 shares. The ARGA Investment Management LP’s holdings currently number ‎‎2,356,888 shares ‎at $96679545.76. According to the firm’s last 13F report, Citigroup Global Markets, Inc. ‎shares in the ‎company at filing stood at 2,244,482 shares, roughly $94,829,365.‎‎

WB Earnings ‎Forecast For The Current Quarter

Weibo Corporation [WB] is expected to ‎report weak earnings ‎results for the quarter ending on Dec 2020. Consensus estimates give the ‎company expected ‎revenues of $497.07M and an earnings per share of $0.71 for Dec 2020. Looking ‎further ahead, the ‎company is expected to report revenue of $395.52M at an EPS of $0.49 for Mar ‎‎2021. The estimates ‎represent upside of 13.10% and 25.39% in the company’s revenue and earnings ‎per share, ‎respectively, on a year-on-year basis.‎‎

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WB Earnings ‎Estimates For The Current ‎Year

For the financial year, Weibo Corporation [NASDAQ:WB] is ‎expected to bring in revenue of ‎‎$1.66B. The returns are nearly $-110.0 million lower than the ‎company’s actual revenue recorded in the ‎fiscal year 2019. In terms of EPS for the 2020, estimate put it ‎at 2.13, lower than that of FY19 by -$0.65. ‎Estimates put this year’s earnings growth at -23.40%, 22.50% ‎for the next, and at an annual 0.97% over ‎the next 5-year period. As for sales, forecasts are for a ‎decrease of -6.00% in the current fiscal year and ‎a further 13.10% over the following year.‎

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