Weibo (WB): Raising PT - Piper Jaffray

August 9, 2016 9:37 AM EDT
Get Alerts WB Hot Sheet
Price: $51.26 -1.71%

Rating Summary:
    7 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
Trade WB Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial 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,

For an analyst ratings summary and ratings history on Weibo Corp click here. For more ratings news on Weibo Corp click here.

Shares of Weibo Corp closed at $37.17 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Piper Jaffray, Gene Munster

Add Your Comment