reports
- Jin Yoon
WB 3Q24 Results: Ad Recovery Could Take Time
What’s new: Weibo’s reported 3Q24 results that were above consensus and our expectations. Ads could be challenging in 4Q partly due to tougher comps in gaming and pull-forward ad demand from Summer Olympics in 3Q. We maintain our PT at USD10. Analysts: Jin Yoon
- Jin Yoon
WB 2Q24 Results: Ad Outlook Challenging in 2H
What’s new: Weibo’s reported 2Q24 revs that were largely in-line with consensus but below our expectations. Ads could remain challenging in the 2H as advertisers remain cautious under an uncertain macro environment. We lower our PT from USD15 to USD10 due to lowered outlook. Our updated PT of USD10 implies 5.4x FY25E P/E. We maintain our BUY rating. Analysts: Jin Yoon
- Dave Nicoski
- Ross LaDuke
Vermilion Short Shots: Technically Vulnerable Stocks
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
ULTA ULTA BEAUTY INC
SWN SOUTHWESTERN ENERGY COMPANY
RYAAY RYANAIR HOLDINGS PLC ADS
PZZA PAPA JOHN'S INTERNATIONAL INC.
PKXN POSCO
HXL HEXCEL CORPORATION
GNTX GENTEX CORPORATION
EEFT EURONET WORLDWIDE INC.
DIS WALT DISNEY COMPANY
CLMT CALUMET SPECIALTY PRODUCTS PARTNERS L.P.
CDNS CADENCE DESIGN SYSTEMS INC.
ALB ALBEMARLE CORPORATION
ALV ALLIANZ SE
DRO DRONESHIELD
CRI CARTER'S INC.
LSCC LATTICE SEMICONDUCTOR CORPORATION
PVH PVH CORP.
WB WEIBO CORP SPONSORED ADR CLASS A
YUMC YUM CHINA HOLDINGS INC.
LW LAMB WESTON HOLDINGS INC.
BHP BHP GROUP
NXE. NEXGEN ENERGY LTD
APTV APTIV PLC
CELH CELSIUS HOLDINGS INC.
AMD ADVANCED MICRO DEVICES INC.
SOM SOMERO ENTERPRISE
ALGM ALLEGRO MICROSYSTEMS
BBWI BATH & BODY WORKS INC
WOLF WOLFSPEED INC
DUOL DUOLINGO INC
INFA INFORMATICA INC
ZGN ERMENEGILDO ZEGNA NV
BRBR BELLRING BRANDS INC
MBLY MOBILEYE GLOBAL INC
- Jin Yoon
WB 1Q24 Results: Ad Growth to Accelerate in 2H
What’s new: Weibo’s reported 1Q24 results that were above consensus and our expectations. Advertiser sentiment has started to stabilize and rev growth could fare better in 2H than 1H partly driven by major events such as the Olympics. We maintain our PT at USD15. Analysts: Jin Yoon
- Jin Yoon
WB 4Q23 Results: Near Term Visibility Remains Limited
What’s new: Weibo’s reported 4Q23 revs were above consensus and our expectations. Visibility remains limited in the near-term amid macro uncertainties. Rev growth could fare better in 2H than 1H partly driven by major events such as the Olympics. We lower our PT from USD20 to USD15 due to lower FY24 outlook. Our revised PT of USD15 implies 8.1x FY24E P/E. We maintain our BUY rating. Analysts: Jin Yoon
- Tian Hou
WB: Economic Recovery In China In 2024 Is Likely to Benefit WB; Steady...
WB will report 4Q23 results on March 14th before the markets open with a 7am ET conference call. We are neutral on WB’s 4Q23 revenue performance, but the margin is likely to be better as spending is not aggressive. China's economy in 2023 showed unexpected slow growth, which is likely to be reflected in WB’s 4Q23 earnings. However, it also provides a low comparison base for 2024. WB is likely to benefit from such a situation. China's economy has its resilience, and it is on its way to gradual r...
- Jin Yoon
WB 3Q23 Results: Visibility Remains Limited Heading into 2024
What’s new: Weibo’s reported 3Q23 results were largely in-line with consensus and our expectations. Ad recovery continues to be gradual and that visibility remains limited heading into 2024. We lower our PT from USD25 to USD20 due to lower FY24 outlook. Our revised PT of USD20 implies 8.3x FY24E P/E. We maintain our BUY rating. Analysts: Jin Yoon
- Jin Yoon
WB 3Q23 Preview: Ad Recovery in line with Expectations
What’s New: We nudge down our 3Q top-line estimates partly due to forex. Overall ad demand remains largely in-line with expectations, while margins could be stable on a sequential basis amid continued cost controls. In this note, we highlight the updates on the business including near-term outlook. Analysts: Jin Yoon
- Jin Yoon
WB 2Q23 Results: Ad Recovery Continues to be Gradual
What's new: Weibo’s reported 2Q23 top line results were largely in-line with consensus but below our expectations. Recovery could continue to be gradual in 2H as ad spending from key verticals such as FMCG could remain challenging. We maintain our PT at USD25. Analysts: Jin Yoon
- Tian Hou
WB: Expect WB To Benefit From Economic Stimulus; Positive On Outlook f...
We are neutral on WB’s 2Q23 performance but positive on the company’s outlook for 2023. The long-awaited economic stimulus policies have started to come out since late July 2023. Recently, China’s central government issued a series of intensive economic stimulus programs to boost confidence and restore economic growth. The programs not only include stimulating capital market, housing market, but also consumer and retail, and many more. Among these programs, AI and data economy are at the center....
- Jin Yoon
WB 1Q23 Results: Ad Recovery Slower Than Anticipated
What's new: Weibo’s reported 1Q23 top line results were largely in-line with consensus but below our expectations. Overall visibility remains limited in the near-term. 2H ad recovery could be dependent on new product launches and recovery in advertiser sentiment. We maintain our PT at USD25. Analysts: Jin Yoon
- Jin Yoon
WB 4Q22 Results - Ads to Rebound Starting in 2Q
What's new: Weibo’s reported 4Q22 top line results were largely in-line with consensus and a touch below our expectations. Ads could remain challenging in 1Q amid tougher comps and conservative ad budgets for the quarter. As macro gradually improves coupled with easier comps, ads could potentially start to reaccelerate in 2Q. We maintain our PT at USD25 and maintain our BUY rating. Analysts: Jin Yoon
- Jin Yoon
New Street: WB 3Q22 Results - Ads Continue to Face Headwinds
What's new: Weibo Corporation reported 3Q22 top line results came in below consensus and our expectations. Advertising could continue to face top-line pressure amid macro and covid uncertainties. We lower our PT from USD 30 to USD 25 as ads could remain challenging in the near term. Our revised PT of USD 25 implies a 12.0x FY23 P/E. We maintain our BUY rating. Analysts: Jin Yoon
- Jin Yoon
- Jin Yoon
New Street: WB 2Q22 Results - Soft Outlook on Visibility Concerns
What's new: Weibo Corporation reported 2Q22 results came in above consensus and our expectations. Advertising could continue to face near term top-line pressure amid macro and covid uncertainties. We maintain our PT at USD 30. Analysts: Jin Yoon
- Jin Yoon
New Street: WB 1Q22 Results - Ad Expected to Bottom in 2Q
What's new: Weibo Corporation reported 1Q22 results came in above consensus estimates and our expectations. Advertising could continue to face near term top-line pressure amid macro uncertainties and slower recovery in brand advertising as cities such as Shanghai gradually normalizes. We lower our PT from USD40 to USD30 accounting for near term visibility on the topline. Our new PT implies a 12.0x FY22E P/E. Analysts: Jin Yoon
- Tian Hou
WB: Lowering 2Q22 Estimates to Reflect The Current State Of China’s Ec...
WB will report 1Q22 results on June 1st before the US markets open with a 7am ET conference call. We are lowering our estimates for 2Q22 to reflect the negative impact from China’s zero-COVID lockdowns, particularly in Shanghai. The lockdowns have caused a slowdown in China’s economy, which worsened in March April and May. WB has many key accounts in Shanghai. We believe these accounts are not optimistic for their ad spending. WB is also impacted by the depreciation of China’s currency. However...
- Jin Yoon
New Street: WB 4Q21 Results - Top Line Strength Challenged in the Near...
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
- Tian Hou
WB: Less Impacted By Weakness Of The Economy Due To Better Event Budge...
WB will report 4Q21 results on March 3rd before the US market open with a 6am ET conference call. We are positive on WB’s 4Q21 and potential 1Q22 performance. As a unique social media broadcasting and discussion platform, WB attracted more events budgets for the New Year’s Eve celebration, Chinese New Year Holidays, and the Olympic Games. In addition, social topics were discussed on the platform. While the weakness in China’s economy starting from December 2021 has negative impacts to the advert...
Increased risk weighs on WEIBO CORP, penalising its rating down to Sl...
The independent financial analyst theScreener just lowered the general evaluation of WEIBO CORP (US), active in the Internet industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date December 14, 2021, the closing price was...
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