Weibo Corp (NASDAQ:WB) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 11,890,000 shares, a growth of 5.4% from the January 15th total of 11,280,000 shares. Currently, 9.7% of the company’s stock are sold short. Based on an average daily volume of 1,936,000 shares, the short-interest ratio is presently 6.1 days.
WB has been the subject of several recent research reports. Credit Suisse Group cut Weibo from an “outperform” rating to a “neutral” rating in a research report on Thursday, November 14th. BidaskClub cut Weibo from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 25th. ValuEngine raised Weibo from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group raised Weibo from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, October 18th. Finally, Zacks Investment Research raised Weibo from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $51.08.
Shares of NASDAQ WB opened at $43.56 on Friday. The firm has a market cap of $9.80 billion, a P/E ratio of 17.49 and a beta of 2.11. The company has a current ratio of 4.51, a quick ratio of 4.51 and a debt-to-equity ratio of 0.79. Weibo has a 1-year low of $34.26 and a 1-year high of $74.68. The business’s 50 day moving average is $46.14 and its 200-day moving average is $45.14.
Weibo (NASDAQ:WB) last announced its earnings results on Thursday, November 14th. The information services provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.09. The company had revenue of $467.75 million for the quarter, compared to analyst estimates of $471.84 million. Weibo had a return on equity of 28.88% and a net margin of 31.79%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. Analysts forecast that Weibo will post 2.24 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its stake in Weibo by 3,272.2% during the 4th quarter. CWM LLC now owns 607 shares of the information services provider’s stock worth $28,000 after acquiring an additional 589 shares during the period. Daiwa Securities Group Inc. bought a new position in Weibo during the 3rd quarter worth $55,000. CenterStar Asset Management LLC bought a new position in Weibo during the 4th quarter worth $62,000. Tower Research Capital LLC TRC increased its stake in Weibo by 525.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,182 shares of the information services provider’s stock worth $101,000 after acquiring an additional 1,833 shares during the period. Finally, SkyOak Wealt LLC bought a new position in Weibo during the 4th quarter worth $205,000. Institutional investors own 26.45% of the company’s stock.
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in 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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