Weibo (WB) Trading Up 6.8%

Weibo Corp (NASDAQ:WB)’s share price was up 6.8% on Monday . The company traded as high as $61.50 and last traded at $60.87. Approximately 3,270,333 shares were traded during trading, an increase of 46% from the average daily volume of 2,246,826 shares. The stock had previously closed at $56.99.

A number of equities analysts have recently weighed in on WB shares. BidaskClub cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research cut shares of Weibo from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price target on shares of Weibo in a research report on Tuesday, July 24th. Barclays reissued a “buy” rating and set a $130.00 price target (down from $150.00) on shares of Weibo in a research report on Sunday, July 29th. Finally, OTR Global initiated coverage on shares of Weibo in a research report on Monday, August 6th. They issued a “positive” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Weibo presently has an average rating of “Hold” and a consensus price target of $126.00.

The stock has a market cap of $12.61 billion, a P/E ratio of 39.02 and a beta of 2.33. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The business had revenue of $426.60 million for the quarter, compared to analysts’ expectations of $426.54 million. Weibo had a net margin of 32.03% and a return on equity of 37.75%. The firm’s revenue was up 68.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. Equities analysts predict that Weibo Corp will post 2.49 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of WB. Artisan Partners Limited Partnership bought a new stake in Weibo during the 2nd quarter worth about $109,350,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its position in Weibo by 28.2% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,590,940 shares of the information services provider’s stock worth $189,475,000 after buying an additional 569,900 shares in the last quarter. New Silk Road Investment PTE Ltd. bought a new stake in Weibo during the 3rd quarter worth about $31,344,000. Point72 Asset Management L.P. lifted its position in Weibo by 898.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock worth $22,074,000 after buying an additional 223,790 shares in the last quarter. Finally, DNB Asset Management AS bought a new stake in Weibo during the 3rd quarter worth about $12,556,000. 23.86% of the stock is currently owned by institutional investors and hedge funds.

About Weibo (NASDAQ:WB)

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

See Also: How analysts view the yield curve

Receive News & Ratings for Weibo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weibo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply