Weibo (NASDAQ:WB) Shares Gap Up – Time to Buy?

Weibo Co. (NASDAQ:WB) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.67, but opened at $10.93. Weibo shares last traded at $10.89, with a volume of 264,231 shares.

Analysts Set New Price Targets

WB has been the subject of a number of research reports. Benchmark reissued a “hold” rating on shares of Weibo in a research report on Wednesday, November 20th. StockNews.com raised shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.28.

Weibo Trading Up 1.6 %

The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $9.34. The stock has a market cap of $2.63 billion, a P/E ratio of 7.43 and a beta of 0.27.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Weibo by 60.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock valued at $2,845,000 after buying an additional 105,780 shares during the period. Citigroup Inc. raised its stake in Weibo by 347.3% during the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock valued at $6,077,000 after purchasing an additional 468,072 shares during the period. Geode Capital Management LLC lifted its stake in Weibo by 78.1% in the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after acquiring an additional 98,017 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Weibo in the fourth quarter worth approximately $229,000. Finally, New York State Common Retirement Fund grew its holdings in shares of Weibo by 24.6% during the 4th quarter. New York State Common Retirement Fund now owns 276,349 shares of the information services provider’s stock valued at $2,639,000 after acquiring an additional 54,600 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.