Weibo (NASDAQ:WB) Trading Up 3.9%

Shares of Weibo Co. (NASDAQ:WB - Get Free Report) shot up 3.9% during trading on Tuesday . The stock traded as high as $7.52 and last traded at $7.51. 152,034 shares changed hands during trading, a decline of 92% from the average session volume of 1,922,161 shares. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

Several research firms have recently commented on WB. Morgan Stanley reduced their price target on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating on the stock in a research report on Friday, August 23rd. Nomura Securities raised Weibo to a "hold" rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.88.

Weibo Stock Up 2.8 %

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.74 billion, a PE ratio of 6.24, a PEG ratio of 1.22 and a beta of 0.22. The firm's fifty day moving average is $7.71 and its 200-day moving average is $8.39.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WB. Deltec Asset Management LLC acquired a new position in shares of Weibo during the 2nd quarter worth $82,000. Truist Financial Corp acquired a new position in Weibo in the 4th quarter valued at $117,000. Bayesian Capital Management LP acquired a new position in Weibo in the 1st quarter valued at $123,000. Seven Eight Capital LP acquired a new position in Weibo in the 2nd quarter valued at $110,000. Finally, XY Capital Ltd acquired a new position in Weibo in the 1st quarter valued at $140,000. 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, 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.