Benign Growth For Weibo Corporation (NASDAQ:WB) Underpins Its Share Price
Nomura Adjusts Price Target on Weibo to $8.80 From $10, Maintains Neutral Rating
Major bank rating | Goldman Sachs: Downgrades Weibo's target price to HKD 73 with a more cautious outlook on advertising revenue.
Goldman Sachs released a research report stating that Weibo's second-quarter earnings roughly met the bank's expectations, but exceeded market expectations. The report pointed out that after attending the company's earnings conference, Weibo's management holds a more cautious outlook on advertising revenue for the second half of this year and beyond, considering the weak macro environment and shrinking advertising budgets for consumer brands. However, the management remains optimistic about stable cosmetic advertising revenue in the fourth quarter of this year. Excluding the impact of forex, advertising revenue for the first and second quarters of this year remained flat and decreased by 1%, respectively. Even with a slight increase in advertising revenue from the Paris Olympics, the bank predicts a year-on-year decline of 4% in the third and fourth quarters of this year.
Weibo Is Maintained at Underweight by Morgan Stanley
Weibo Analyst Ratings
Morgan Stanley Maintains Weibo(WB.US) With Sell Rating, Cuts Target Price to $7.5
