Weibo (WB): Raising PT - Piper Jaffray
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst, Gene Munster, reiterated his Overweight rating on shares of Weibo Corp (NASDAQ: WB) and increased his price target to $43.00 (after Weibo posted Q2 revenue slightly ahead of the Street as it moved past the change in Alibaba spend in Q1.
The company guided Q3 up 4%. Overall, the momentum of the business remains strong with SME revenue continuing to grow over 100% y/y and key account revenue growth accelerating to 73% y/y. The analyst's thesis on WB remains intact that ad loads remain low compared to US social networks and video remains a major opportunity. Management highlighted a number of successes in video in Q2 including over 1.5 billion streams per day and 10 million live video streams. Management stated that they expect PF net margins to continue to improve over the next year,
Shares of Weibo Corp closed at $37.17 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- M&T Bank (MTB) PT Raised to $165 at FBR Capital Following 4Q Beat
- Goldman Sachs Upgrades CVR Refining (CVRR) to Neutral
- Morgan Stanley Downgrades Travelport Worldwide Limited (TVPT) to Equalweight
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Gene Munster
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!