Weibo (WB) Shares Gap Down to $61.57

Weibo Corp (NASDAQ:WB) gapped down before the market opened on Friday . The stock had previously closed at $63.49, but opened at $61.57. Weibo shares last traded at $57.16, with a volume of 2858907 shares.

Several research firms have weighed in on WB. Zacks Investment Research cut Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price target on shares of Weibo in a research note on Tuesday, July 24th. Barclays reiterated a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of Weibo in a research note on Sunday, July 29th. ValuEngine cut Weibo from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, OTR Global assumed coverage on Weibo in a research note on Monday, August 6th. They issued a “positive” rating for the company. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $112.00.

The company has a market cap of $14.38 billion, a P/E ratio of 36.64 and a beta of 2.41. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $426.54 million. During the same period in the prior year, the company earned $0.38 EPS. Weibo’s revenue was up 68.4% compared to the same quarter last year. On average, equities analysts expect that Weibo Corp will post 2.44 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in WB. Artisan Partners Limited Partnership acquired a new stake in Weibo in the second quarter valued at $109,350,000. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Weibo by 28.2% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,590,940 shares of the information services provider’s stock valued at $189,475,000 after purchasing an additional 569,900 shares during the period. New Silk Road Investment PTE Ltd. acquired a new stake in Weibo in the third quarter valued at $31,344,000. Point72 Asset Management L.P. increased its holdings in Weibo by 898.8% in the second quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock valued at $22,074,000 after purchasing an additional 223,790 shares during the period. Finally, DNB Asset Management AS acquired a new stake in Weibo in the third quarter valued at $12,556,000. Institutional investors own 24.14% of the company’s stock.

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Weibo Company Profile (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.

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