StockNews.com Downgrades Weibo (NASDAQ:WB) to Hold

Weibo (NASDAQ:WB - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.

A number of other brokerages have also recently issued reports on WB. Morgan Stanley cut their price objective on shares of Weibo from $8.00 to $7.50 and set an "underweight" rating for the company in a research note on Friday, August 23rd. Nomura Securities raised shares of Weibo to a "hold" rating in a research report on Monday, August 26th. Finally, Citigroup increased their price target on shares of Weibo from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Weibo currently has an average rating of "Hold" and a consensus target price of $10.23.

Weibo Price Performance

Shares of NASDAQ:WB traded down $0.65 during trading on Friday, reaching $8.62. The company had a trading volume of 2,359,540 shares, compared to its average volume of 2,039,744. The company has a fifty day moving average of $8.88 and a two-hundred day moving average of $8.53. The stock has a market capitalization of $2.02 billion, a P/E ratio of 6.73 and a beta of 0.24. Weibo has a 12 month low of $7.03 and a 12 month high of $12.54. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55.

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

Institutional Trading of Weibo

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Krane Funds Advisors LLC increased its stake in 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. Acadian Asset Management LLC grew its stake 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 acquiring an additional 1,634,230 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Weibo by 64.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider's stock worth $10,056,000 after acquiring an additional 511,248 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Weibo in the first quarter worth approximately $7,435,000. Finally, Millennium Management LLC grew its stake in shares of Weibo by 56.1% in the second quarter. Millennium Management LLC now owns 726,940 shares of the information services provider's stock worth $5,583,000 after acquiring an additional 261,180 shares during the period. 68.77% of the stock is currently owned by institutional investors.

Weibo Company Profile

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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