Goldman Sachs Sees In-Line 1Q14 Revenues For Weibo

In a report published Thursday, Goldman Sachs analyst Piyush Mubayi reiterated a Buy rating and $24.00 price target on Weibo WB. In the report, Goldman Sachs noted, “Weibo reported 1Q14 revenues of US$67.5mn (-5% qoq, +161% yoy), in line with GSe. The sequential decline reflects weak seasonality for advertising and e-commerce activities in the quarter. Non-GAAP loss per ADS of $0.03 was also in-line. For 2Q, Weibo guided revenues of US$74mn-US$76mn, +99% yoy at the midpoint, consistent with GSe again.” Weibo closed on Wednesday at $20.25.