New Street Research - Weibo Corp Sponsored ADR Class A (WB) New Street: WB 4Q21 Results - Top Line Strength Challenged in the Near Term

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New Street Research

Jin Yoon

New Street: WB 4Q21 Results - Top Line Strength Challenged in the Near Term

What's new: Weibo Corporation reported 4Q21 results came in above consensus estimates. Advertising revenues could continue to face near term pressure due to tougher comps in key verticals such as e-commerce live streaming and online education, coupled with downtrodden macro environment. We lower our PT from USD65 to USD40, accounting for near term visibility on the top line and increasing investments. Our new PT implies a 14.1x FY22E P/E.

Analysts:
Jin Yoon

04/03/2022 1 EN

Underlying

Weibo Corp Sponsored ADR Class A

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US9485961018 NASDAQ Stock Market United States

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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New Street: WB 4Q21 Results - Top Line Strength Challenged in the Near Term

WB 3Q24 Results: Ad Recovery Could Take Time

WB 2Q24 Results: Ad Outlook Challenging in 2H

Vermilion Short Shots: Technically Vulnerable Stocks

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

Gen AI Big Idea Series - Chipletz CEO Bryan Black - Smart Substrate & the Multi-Chip-Module revolution

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