Weibo Corp (ADR) (WB) Formed a Bullish Double Top, Could Be One of The Best Performers Soon

June 19, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.22 in Q4 2016. Its down 2.19, from 3.41 in 2016Q3. It turned negative, as 44 investors sold Weibo Corp (ADR) shares while 37 reduced holdings. 52 funds opened positions while 47 raised stakes. 22.23 million shares or 46.89% less from 41.86 million shares in 2016Q3 were reported.
Envestnet Asset reported 3,321 shares. Pictet Asset Mgmt reported 45,000 shares. Glenmede Tru Na reported 0% in Weibo Corp (ADR) (NASDAQ:WB). Keywise Capital Mngmt Ltd accumulated 122,500 shares. Barclays Public Limited Liability Corp has 0% invested in Weibo Corp (ADR) (NASDAQ:WB) for 44,197 shares. Daiwa Securities Grp Inc has 400 shares. Walleye Trading Lc, Minnesota-based fund reported 137,276 shares. Schroder Invest Management Grp owns 3.08M shares or 0.24% of their US portfolio. Allianz Asset Management Ag holds 57,627 shares. Baillie Gifford & accumulated 61,182 shares. Michigan-based Comerica Financial Bank has invested 0% in Weibo Corp (ADR) (NASDAQ:WB). Architects has invested 0.02% in Weibo Corp (ADR) (NASDAQ:WB). Amp Cap Investors Ltd has 0% invested in Weibo Corp (ADR) (NASDAQ:WB) for 12,700 shares. Shellback Capital L P has 25,000 shares for 0.1% of their portfolio. Great West Life Assurance Can invested in 0% or 27,447 shares.

The chart of Weibo Corp (ADR) (WB) shows a double top with $76.23 target or 4.00 % above today’s $73.30 share price. The 7 months chart pattern indicates low risk for the $15.80 billion company. It was reported on Jun, 19 by Finviz.com. If the $76.23 price target is reached, the company will be worth $632.00 million more. Double tops are rare but powerful chart patterns.

About 470,850 shares traded. Weibo Corp (ADR) (NASDAQ:WB) has risen 239.00% since June 19, 2016 and is uptrending. It has outperformed by 222.30% the S&P500.

Weibo Corp (ADR) (NASDAQ:WB) Ratings Coverage

Among 8 analysts covering Weibo Corp (NASDAQ:WB), 5 have Buy rating, 0 Sell and 3 Hold. Therefore 63% are positive. Weibo Corp had 14 analyst reports since August 19, 2015 according to SRatingsIntel. The stock of Weibo Corp (ADR) (NASDAQ:WB) earned “Neutral” rating by Goldman Sachs on Thursday, August 11. The company was downgraded on Thursday, October 29 by Citigroup. The rating was upgraded by Morgan Stanley to “Overweight” on Thursday, December 17. The stock has “Neutral” rating by Goldman Sachs on Monday, May 16. The firm has “Hold” rating given on Friday, September 4 by Zacks. The rating was maintained by TH Capital on Tuesday, November 17 with “Buy”. The rating was downgraded by Zacks on Wednesday, August 26 to “Hold”. The stock of Weibo Corp (ADR) (NASDAQ:WB) earned “Overweight” rating by Morgan Stanley on Tuesday, April 19. Piper Jaffray maintained Weibo Corp (ADR) (NASDAQ:WB) rating on Wednesday, August 19. Piper Jaffray has “Buy” rating and $22 target. The rating was reinitiated by JP Morgan with “Overweight” on Wednesday, August 31.

More notable recent Weibo Corp (ADR) (NASDAQ:WB) news were published by: Investorplace.com which released: “Weibo Corp (ADR) (WB) Stock Goes Cold Despite Hot Q4 Earnings” on February 23, 2017, also Investorplace.com with their article: “Weibo Corp (ADR) (WB) Is China’s Twitter, Except You Should Actually Buy It” published on December 19, 2016, Investorplace.com published: “Weibo Corp (ADR) (WB) Stock Is Headed for the Big Leagues” on October 21, 2016. More interesting news about Weibo Corp (ADR) (NASDAQ:WB) were released by: Investorplace.com and their article: “Weibo Corp (ADR) (WB) Stock Pops on Q1 Beat, But Is It Bubblicious?” published on May 16, 2017 as well as Investorplace.com‘s news article titled: “Why Weibo Corp (ADR) Stock Is Crushing Twitter Inc (TWTR)” with publication date: November 21, 2016.

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