Cloud-based solutions group Weimob falls most in nearly 3 wks, brokers cut PT

Weimob

17/01/2022 05:36

** Shares of cloud-based commerce and marketing solutions
services provider Weimob Inc  2013.HK  fall nearly 6% to
HK$6.91, their biggest daily pct drop since Dec. 29
    ** Stock set for third straight session of losses; biggest
decliner in the Hang Seng Tech Index  .HSTECH 
    ** Jefferies maintains "buy" rating on Weibo but lower PT to
HK$17.90 from HK$23, factoring in the latest business
developments across different sub-segments of subscriptions,
merchant solutions and digital media
    ** Daiwa also maintains "buy" rating on Weimob on its
revenue growth potential in digital commerce solutions in China
and long-term growth prospects look promising, but trims TP to
HK$13 from HK$16 saying 2022 revenue likely to be negatively
affected by macro 
    ** Citi expects Weimob's top and bottom lines to miss
consensus given macro headwinds while the macro impact is
expected to persist into 1H22 and improve in 2H22 with the
company likely being more conservative on expenses 
    ** The Hong Kong Hang Seng sub-index tracking information
technology firms  .HSCIIT  drops 1.5%, and the Hang Seng Tech
Index  .HSTECH  declines 1.4%
    ** The Hang Seng Composite Index  .HSCI  falls 1% and the
benchmark Hang Seng Index  .HSI  slips 0.8%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))