Barclays analyst Gregory Zhao maintained a Buy rating on Weibo (WB – Research Report) yesterday and set a price target of $55. The company’s shares closed last Monday at $41.43, close to its 52-week low of $34.26.
According to TipRanks.com, Zhao is a 1-star analyst with an average return of -1.0% and a 46.4% success rate. Zhao covers the Technology sector, focusing on stocks such as Tencent Holdings Limited, GSX Techedu Inc, and Baidu Inc.
Weibo has an analyst consensus of Moderate Buy, with a price target consensus of $54.37, implying a 27.9% upside from current levels. In a report issued on August 19, CLSA also upgraded the stock to Buy with a $54 price target.
Based on Weibo’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $103 million. In comparison, last year the company had a net profit of $139 million.
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Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments.