Weibo (WB) Trading Down 5.4%

Weibo Corp (NASDAQ:WB) fell 5.4% on Thursday . The company traded as low as $60.52 and last traded at $61.57. 1,690,881 shares were traded during trading, a decline of 25% from the average session volume of 2,248,802 shares. The stock had previously closed at $65.09.

A number of research analysts recently weighed in on WB shares. ValuEngine raised Weibo from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price objective on shares of Weibo in a research note on Tuesday, July 24th. Zacks Investment Research downgraded Weibo from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. BidaskClub downgraded Weibo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 5th. Finally, Benchmark cut their price objective on Weibo from $148.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $112.00.

The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.61. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 0.93 and a beta of 2.41.

Weibo (NASDAQ:WB) last released its earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.02. The firm had revenue of $426.60 million for the quarter, compared to analyst estimates of $426.54 million. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The company’s revenue was up 68.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. Equities analysts anticipate that Weibo Corp will post 2.44 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WB. Artisan Partners Limited Partnership acquired a new stake in Weibo in the 2nd quarter valued at approximately $109,350,000. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in Weibo by 28.2% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,590,940 shares of the information services provider’s stock valued at $189,475,000 after buying an additional 569,900 shares during the last quarter. New Silk Road Investment PTE Ltd. acquired a new stake in Weibo in the 3rd quarter valued at approximately $31,344,000. Point72 Asset Management L.P. grew its holdings in Weibo by 898.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 248,690 shares of the information services provider’s stock valued at $22,074,000 after buying an additional 223,790 shares during the last quarter. Finally, DNB Asset Management AS acquired a new stake in Weibo in the 3rd quarter valued at approximately $12,556,000. 24.14% of the stock is currently owned by hedge funds and other institutional investors.

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Weibo Company Profile (NASDAQ:WB)

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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