Analyst Price Target Update on Weibo Corporation (NASDAQ:WB)

Weibo Corporation (NASDAQ:WB) shares are expected to touch $25 in the short term. This short term price target has been shared by 2 analysts. However, the standard deviation of short term price estimate has been valued at 1.41. The target price could hit $26 on the higher end and $24 on the lower end.

Many analysts have stated their opinion on the company shares. Brokerage firm Goldman Sachs downgrades its rating on Weibo Corporation (NASDAQ:WB). As per the latest information, the brokerage house raises the price target to $22 per share from a prior target of $20. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on May 16, 2016. For the current week, the company shares have a recommendation consensus of Buy.

Weibo Corporation (NASDAQ:WB) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.36 points or 1.33% at $26.72 with 1,796,487 shares getting traded. Post opening the session at $26.9, the shares hit an intraday low of $26.23 and an intraday high of $27.17 and the price was in this range throughout the day. The company has a market cap of $5,669 million and the number of outstanding shares have been calculated to be 212,177,390 shares. The 52-week high of Weibo Corporation (NASDAQ:WB) is $29.49 and the 52-week low is $8.78.

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. It offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; discovery products to help users discover content on its platform, and notifications to notify users on Weibo account activities through short message service (SMS) or push notification on their device. It offers advertising and marketing solutions to enable its customers to promote their brands and conduct marketing activities. It offers its platform partners with tools and application programming interfaces (APIs).

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