New Street Research - Weibo Corp Sponsored ADR Class A (WB) New Street: WB 2Q21 Earnings - Ad Demand Remains Resilient

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New Street Research

Jin Yoon

New Street: WB 2Q21 Earnings - Ad Demand Remains Resilient

What's new: Weibo Corporation reported 2Q21 results came in above our expectations and consensus estimates. Guidance reflects ad growth momentum could remain resilient heading into 2H despite macro and regulatory headwinds. We maintain our PT at USD65 which implies an 18.3x FY22E P/E.

Analysts:
Jin Yoon

20/08/2021 7 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.

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Analysts

Jin Yoon

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New Street: WB 2Q21 Earnings - Ad Demand Remains Resilient

WB 4Q23 Results: Near Term Visibility Remains Limited

WB: Economic Recovery In China In 2024 Is Likely to Benefit WB; Steady 4Q23 Performance; Trading Around Cash

WB 3Q23 Results: Visibility Remains Limited Heading into 2024

Bible 1Q24 – Foundries: leading-edge strong; Trailing-edge correction playing out.

VEON (Buy, TP: $40, +55%) Thoughts after the call

Reddit (RDDT, Neutral, $54 target) Data licensing tracking our base case after OpenAI deal

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