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Why Weibo (WB) Stock Is Up Today

Stocks in this article: WB

NEW YORK (TheStreet) -- Weibo (WB) was gaining 3.1% to $19.23 Tuesday after Credit Suisse initiated coverage of the company.

Credit Suisse started its coverage of Weibo with an "outperform" rating and a price target of $23. Analyst Dick Wei believes earnings to grow to $87 million in 2015 and double to $174 million in 2016. Wei expects healthy revenue growth thanks to premium memberships, e-commerce, data licensing, and the company's game publishing.

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WB Chart

WB data by YCharts

"Weibo Corporation (Weibo) is a social media platform for people to create, distribute and discover Chinese-language content. Weibo provides ways for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world. The Company allows users to share a feed and any user can follow other users. Each feed is limited to 140 Chinese characters and may attach multimedia including photos, songs and videos. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. The simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream. The Company operates in two segments: advertising and marketing services and other services."

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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