Citi analyst Alicia Yap lowered the firm’s price target on Weibo to $15 from $18 and keeps a Buy rating on the shares. The analyst says the company reported a mixed Q4 results. Looking into 2024, while managemewbt sounded cautious on the Q1 outlook given weak macro conditions and low visibility of advertising budget spend, the company seems optimistic for a stronger second half as it expects higher ad spend during the summer Olympic games and potential gradual improvement of China macro outlook, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WB:
- Options Volatility and Implied Earnings Moves Today, March 14, 2024
- Weibo declares 82c per share special cash dividend
- Weibo reports Q4 EPS 31c, consensus 49c
- Options Volatility and Implied Earnings Moves This Week, March 11 – March 15, 2024
- WB Upcoming Earnings Report: What to Expect?
Questions or Comments about the article? Write to editor@tipranks.com