Citigroup Initiates Coverage on Weibo Corp (ADR) to Buy

Citigroup Initiates Coverage on Weibo Corp (ADR)(NASDAQ:WB). The shares have been rated Buy. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On May 16, 2016, Goldman Sachs said it Downgrades its rating on Weibo Corp (ADR). In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 11, 2016, Tigress Financial said it Downgrades its rating on Weibo Corp (ADR). The shares have been rated ‘Neutral’ by the firm.

Weibo Corp (ADR) (WB) made into the market gainers list on Wednesdays trading session with the shares advancing 1.20% or 0.52 points. Due to strong positive momentum, the stock ended at $43.71, which is also near the day’s high of $43.79. The stock began the session at $43 and the volume stood at 15,04,186 shares. The 52-week high of the shares is $45.939 and the 52 week low is $8.78. The company has a current market capitalization of $9,274 M and it has 21,21,77,390 shares in outstanding.

Weibo Corp (ADR)(WB) last announced its earnings results on May 11, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $119.29M. Analysts had an estimated revenue of $113.64M. Earnings per share were $0.07. Analysts had estimated an EPS of $0.04.

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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