Weibo (WB) Shares Gap Up to $56.85

Weibo Corp (NASDAQ:WB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $54.91, but opened at $56.85. Weibo shares last traded at $60.06, with a volume of 2034466 shares traded.

A number of equities analysts recently weighed in on WB shares. OTR Global started coverage on shares of Weibo in a report on Monday, August 6th. They issued a “positive” rating for the company. Barclays restated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of Weibo in a report on Sunday, July 29th. BidaskClub lowered shares of Weibo from a “sell” rating to a “strong sell” rating in a report on Saturday, August 18th. ValuEngine lowered shares of Weibo from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, JPMorgan Chase & Co. started coverage on shares of Weibo in a report on Wednesday, August 29th. They issued an “overweight” rating and a $118.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $112.00.

The company has a market cap of $13.29 billion, a price-to-earnings ratio of 36.49, a price-to-earnings-growth ratio of 0.86 and a beta of 2.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.97 and a current ratio of 3.97.

Institutional investors and hedge funds have recently made changes to their positions in the business. Korea Investment CORP raised its stake in Weibo by 236.8% during the 2nd quarter. Korea Investment CORP now owns 22,900 shares of the information services provider’s stock valued at $2,033,000 after buying an additional 16,100 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of Weibo in the 2nd quarter worth $1,078,000. Schwab Charles Investment Management Inc. increased its stake in shares of Weibo by 52.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,503 shares of the information services provider’s stock worth $3,596,000 after purchasing an additional 13,954 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Weibo by 898.8% in 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 purchasing an additional 223,790 shares in the last quarter. Finally, BB&T Corp increased its stake in shares of Weibo by 6.7% in the 2nd quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after purchasing an additional 667 shares in the last quarter. Institutional investors and hedge funds own 23.52% of the company’s stock.

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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.

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