Weibo (NASDAQ:WB) Shares Gap Down - Here's What Happened

Weibo Co. (NASDAQ:WB - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $11.20, but opened at $10.51. Weibo shares last traded at $10.63, with a volume of 404,478 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a report on Friday, August 23rd. Citigroup upped their price target on Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a report on Monday. Finally, Nomura Securities raised 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 two have issued a buy rating to the company. According to data from MarketBeat, Weibo currently has an average rating of "Hold" and an average target price of $10.23.

Weibo Stock Performance

The firm's 50-day simple moving average is $7.92 and its two-hundred day simple moving average is $8.38. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $2.48 billion, a PE ratio of 8.93, a PEG ratio of 1.67 and a beta of 0.22.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly 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. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The firm had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Weibo's quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC grew its stake in shares of Weibo by 226.3% in the 4th quarter. Hsbc Holdings PLC now owns 246,841 shares of the information services provider's stock valued at $2,703,000 after buying an additional 171,188 shares in the last quarter. KBC Group NV lifted its stake in shares of Weibo by 79.4% in the 4th quarter. KBC Group NV now owns 112,397 shares of the information services provider's stock valued at $1,231,000 after purchasing an additional 49,742 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in Weibo in the fourth quarter worth $4,521,000. Goldman Sachs Group Inc. increased its position in Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider's stock worth $33,675,000 after buying an additional 2,047,135 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Weibo by 47.8% during the fourth quarter. Quadrature Capital Ltd now owns 48,602 shares of the information services provider's stock valued at $531,000 after buying an additional 15,715 shares in the last quarter. Institutional investors and hedge funds 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.