Weibo (NASDAQ:WB) Stock Crosses Below 200-Day Moving Average – What’s Next?

Weibo Corporation (NASDAQ:WB)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.55 and traded as low as $9.82. Weibo shares last traded at $9.86, with a volume of 1,020,967 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Weibo from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Citigroup raised their price target on shares of Weibo from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Weibo Stock Performance

The company has a market cap of $2.41 billion, a price-to-earnings ratio of 6.90 and a beta of 0.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 3.65. The firm has a fifty day simple moving average of $11.28 and a 200 day simple moving average of $10.55.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Tuesday, November 18th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Weibo had a return on equity of 12.65% and a net margin of 21.10%.The firm had revenue of $442.31 million for the quarter, compared to the consensus estimate of $447.88 million. During the same period in the prior year, the company posted $0.53 earnings per share. Weibo’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts expect that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weibo

A number of institutional investors have recently made changes to their positions in WB. Wolverine Asset Management LLC boosted its holdings in Weibo by 35.1% in the 1st quarter. Wolverine Asset Management LLC now owns 127,140 shares of the information services provider’s stock valued at $1,204,000 after purchasing an additional 33,000 shares during the period. Mackenzie Financial Corp bought a new position in shares of Weibo during the 1st quarter worth about $351,000. Nuveen LLC acquired a new position in shares of Weibo during the first quarter valued at about $690,000. XY Capital Ltd bought a new stake in shares of Weibo in the first quarter valued at about $649,000. Finally, National Bank of Canada FI grew its position in Weibo by 28,999,900.0% during the first quarter. National Bank of Canada FI now owns 290,000 shares of the information services provider’s stock worth $2,746,000 after buying an additional 289,999 shares in the last quarter. 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, 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.