Weibo (NASDAQ:WB) Shares Gap Down - Time to Sell?

Weibo Co. (NASDAQ:WB - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $9.29, but opened at $8.99. Weibo shares last traded at $8.96, with a volume of 211,355 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WB shares. Citigroup upped their target price on Weibo from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, September 30th. StockNews.com cut shares of Weibo from a "buy" rating to a "hold" rating in a report on Thursday. Morgan Stanley lowered 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. Finally, Nomura Securities raised shares of Weibo to a "hold" rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $10.23.

Weibo Price Performance

The company has a market capitalization of $2.06 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 1.63 and a beta of 0.23. The business's 50-day moving average is $8.45 and its two-hundred day moving average is $8.46. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55.

Weibo (NASDAQ:WB - Get Free Report) last posted its earnings results on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm had revenue of $437.90 million for the quarter, compared to analysts' expectations of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. As a group, analysts predict that Weibo Co. will post 1.48 earnings per share for the current year.

Institutional Trading of Weibo

Hedge funds have recently made changes to their positions in the company. Krane Funds Advisors LLC grew its position 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 valued at $29,213,000 after purchasing an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Weibo by 199.1% in 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 acquiring an additional 2,047,135 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Weibo by 204.5% in the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock valued at $18,678,000 after acquiring an additional 1,634,230 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Weibo by 64.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider's stock valued at $10,056,000 after acquiring an additional 511,248 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Weibo during the 1st quarter valued at about $7,435,000. 68.77% of the stock is currently owned by institutional investors.

About Weibo

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.