HSBC has decided to maintain its Hold rating of Weibo (NASDAQ:WB) and lower its price target from $26.00 to $22.00.
Shares of Weibo are trading down 2.11% over the last 24 hours, at $19.27 per share.
A move to $22.00 would account for a 14.2% increase from the current share price.
About Weibo
Weibo is the largest social media platform in China. As of 2020, Weibo had 521 million monthly active users and 225 million daily active users, many of whom are drawn there by the millions of key opinion leaders in entertainment, sports, and business circles. Sina is the major shareholder, holding 44.7% of shares and with 70.8% voting power; Alibaba holds 29.8% of shares and 15.7% voting power.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.