Weibo Recovery Still In The Works Due To Soft Ad Revenue, Analyst No Longer Bullish
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When Weibo Corp (NASDAQ: WB) reported mixed fourth-quarter results, the recovery in its advertising revenues was softer than anticipated in 2023.
The company now seems headed for incremental sales and margin pressure this year, according to Goldman Sachs.
The Weibo Analyst: Timothy Zhao downgraded the rating for Weibo from Buy to Neutral, while reducing the price target from HK$133 (US$17.10) to HK$83 (US$10.60).
The Weibo Thesis: The company’s revenue recovery was impacted by weaker household consumption and stiff content competition, …
Full story available on Benzinga.com
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