Shares of Weibo Co. (NASDAQ:WB - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.79, but opened at $9.33. Weibo shares last traded at $9.30, with a volume of 394,549 shares.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on WB. Nomura Securities raised shares of Weibo to a "hold" rating in a research note on Monday, August 26th. StockNews.com lowered Weibo from a "buy" rating to a "hold" rating in a report on Thursday. Citigroup lifted their target price on Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Finally, Morgan Stanley decreased their price target on Weibo from $8.00 to $7.50 and set an "underweight" rating for the company 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 issued a buy rating to the company. According to data from MarketBeat.com, Weibo currently has a consensus rating of "Hold" and an average target price of $10.23.
Check Out Our Latest Stock Analysis on WB
Weibo Stock Up 3.4 %
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 company has a market cap of $2.13 billion, a P/E ratio of 7.64, a P/E/G ratio of 1.63 and a beta of 0.23. The stock has a 50 day moving average price of $8.49 and a 200 day moving average price of $8.46.
Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.10. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. Weibo's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. Research analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Weibo
A number of institutional investors and hedge funds have recently modified their holdings of WB. Goldman Sachs Group Inc. boosted 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 purchasing an additional 2,047,135 shares during the period. Acadian Asset Management LLC boosted its position in shares of Weibo by 204.5% in the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider's stock worth $18,678,000 after buying an additional 1,634,230 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Weibo in the first quarter worth $7,435,000. Krane Funds Advisors LLC grew its holdings in shares of Weibo by 17.4% during the second quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider's stock valued at $29,213,000 after buying an additional 564,068 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Weibo by 64.1% during the second 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 buying an additional 511,248 shares during the period. 68.77% of the stock is owned by institutional investors and hedge funds.
About Weibo
(
Get Free Report)
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.
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