Weibo (NASDAQ:WB) Shares Up 3.7%

Weibo Co. (NASDAQ:WB) shares shot up 3.7% during mid-day trading on Tuesday . The company traded as high as $8.03 and last traded at $8.03. 684,788 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,143,400 shares. The stock had previously closed at $7.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $10.60 price target on shares of Weibo in a report on Thursday, March 28th. UBS Group upgraded Weibo from a “neutral” rating to a “buy” rating and lowered their price target for the company from $12.90 to $11.50 in a report on Tuesday, March 19th. HSBC lowered their price target on Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a report on Friday, March 15th. Finally, Morgan Stanley downgraded Weibo from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.65.

Weibo Stock Performance

The firm has a market capitalization of $1.88 billion, a PE ratio of 6.60, a P/E/G ratio of 1.29 and a beta of 0.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a fifty day moving average price of $8.74 and a 200 day moving average price of $9.01.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, May 23rd. The information services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Weibo had a return on equity of 10.92% and a net margin of 16.74%. The business had revenue of $395.50 million during the quarter, compared to the consensus estimate of $396.50 million. Research analysts anticipate that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Several hedge funds have recently bought and sold shares of the business. Truist Financial Corp acquired a new position in Weibo in the 4th quarter worth about $117,000. Bayesian Capital Management LP acquired a new position in Weibo in the 1st quarter worth about $123,000. Profund Advisors LLC acquired a new position in shares of Weibo during the 3rd quarter valued at about $133,000. XY Capital Ltd bought a new position in shares of Weibo in the 1st quarter valued at approximately $140,000. Finally, abrdn plc raised its stake in shares of Weibo by 59.4% in the 4th quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 6,955 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

About Weibo

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