Weibo (NASDAQ:WB) Shares Up 3.9%

Shares of Weibo Co. (NASDAQ:WB) shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $7.52 and last traded at $7.51. 152,034 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,922,161 shares. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WB shares. Morgan Stanley cut their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. Nomura Securities upgraded shares of Weibo to a “hold” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.88.

Weibo Price Performance

The firm has a market cap of $1.75 billion, a P/E ratio of 6.08, a PEG ratio of 1.22 and a beta of 0.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.34 and a quick ratio of 2.34. The stock’s 50-day simple moving average is $7.73 and its two-hundred day simple moving average is $8.40.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.38 by $0.10. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. Equities research analysts forecast that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weibo

Several hedge funds have recently bought and sold shares of the business. Trexquant Investment LP increased its position in shares of Weibo by 131.2% during the fourth quarter. Trexquant Investment LP now owns 152,655 shares of the information services provider’s stock worth $1,672,000 after acquiring an additional 86,641 shares during the period. Goldman Sachs Group Inc. increased its holdings in Weibo by 199.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock worth $33,675,000 after purchasing an additional 2,047,135 shares during the period. Headlands Technologies LLC bought a new stake in Weibo during the 2nd quarter valued at $1,398,000. Krane Funds Advisors LLC lifted its holdings in shares of Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock worth $29,213,000 after buying an additional 564,068 shares during the period. Finally, Truist Financial Corp bought a new position in shares of Weibo during the 4th quarter worth $117,000. Institutional investors own 68.77% of the company’s stock.

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.