Weibo (NASDAQ:WB) Shares Gap Up to $9.91

Weibo Co. (NASDAQ:WB - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $9.91, but opened at $10.46. Weibo shares last traded at $10.77, with a volume of 1,627,629 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Monday. Nomura Securities raised shares of Weibo to a "hold" rating in a research note on Monday, August 26th. Finally, Morgan Stanley cut their target price on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Weibo currently has a consensus rating of "Hold" and an average price target of $10.23.

Weibo Price Performance

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 firm's 50 day moving average is $7.74 and its 200 day moving average is $8.35. The firm has a market cap of $2.36 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in shares of Weibo by 226.3% during the fourth quarter. Hsbc Holdings PLC now owns 246,841 shares of the information services provider's stock valued at $2,703,000 after purchasing an additional 171,188 shares during the last quarter. KBC Group NV raised its holdings in shares of Weibo by 79.4% during the fourth 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 purchased a new position in shares of Weibo during the fourth quarter valued at approximately $4,521,000. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $33,675,000 after purchasing an additional 2,047,135 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings 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 valued at $531,000 after purchasing an additional 15,715 shares during 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, 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.