Weibo (NASDAQ:WB) Shares Gap Down to $8.66

Weibo Co. (NASDAQ:WB - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $8.66, but opened at $8.33. Weibo shares last traded at $8.23, with a volume of 191,746 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WB. Morgan Stanley reduced their target price on Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a research note on Friday, August 23rd. Nomura Securities upgraded Weibo to a "hold" rating in a research note on Monday, August 26th. Two 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. Based on data from MarketBeat, Weibo presently has a consensus rating of "Hold" and a consensus price target of $9.88.

Weibo Stock Performance

The stock has a market cap of $1.96 billion, a PE ratio of 7.04, a P/E/G ratio of 1.31 and a beta of 0.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34. The business's fifty day moving average price is $7.67 and its 200-day moving average price is $8.36.

Weibo (NASDAQ:WB - Get Free Report) last released its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share 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 return on equity of 11.01% and a net margin of 18.52%. Weibo's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share. As a group, equities research analysts forecast that Weibo Co. will post 1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Weibo

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock valued at $33,675,000 after purchasing an additional 2,047,135 shares in the last quarter. Headlands Technologies LLC bought a new stake in Weibo during the second quarter valued at about $1,398,000. Krane Funds Advisors LLC raised its stake in shares of Weibo by 17.4% during 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 acquiring an additional 564,068 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Weibo by 65.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,025 shares of the information services provider's stock valued at $1,082,000 after purchasing an additional 46,898 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Weibo by 47.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider's stock worth $531,000 after acquiring an additional 15,715 shares during the last quarter. Hedge funds and other 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, 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.