Weibo (NASDAQ:WB) Share Price Passes Above 50-Day Moving Average – Here’s Why

Weibo Corporation (NASDAQ:WBGet Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $7.69 and traded as high as $8.16. Weibo shares last traded at $8.08, with a volume of 744,038 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on WB. Jefferies Financial Group reaffirmed a “buy” rating and issued a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weibo in a report on Friday, July 24th. Finally, Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a report on Monday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Weibo currently has a consensus rating of “Hold” and an average target price of $11.90.

Read Our Latest Analysis on WB

Weibo Trading Down 0.9%

The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02. The stock has a 50-day moving average price of $7.68 and a 200-day moving average price of $8.72. The stock has a market cap of $1.93 billion, a P/E ratio of 5.51, a P/E/G ratio of 4.78 and a beta of 0.18.

Weibo (NASDAQ:WBGet Free Report) last announced its earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Weibo had a net margin of 21.15% and a return on equity of 9.90%. The company had revenue of $421.33 million for the quarter, compared to the consensus estimate of $416.76 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Weibo Corporation will post 1.26 EPS for the current year.

Institutional Trading of Weibo

Several hedge funds and other institutional investors have recently bought and sold shares of WB. EverSource Wealth Advisors LLC lifted its holdings in Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after buying an additional 2,990 shares during the period. WealthCollab LLC lifted its position in shares of Weibo by 50.1% in the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock worth $52,000 after purchasing an additional 1,709 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Weibo in the 2nd quarter worth about $61,000. FourThought Financial Partners LLC bought a new stake in shares of Weibo during the 4th quarter valued at about $110,000. Finally, AQR Capital Management LLC purchased a new position in shares of Weibo during the first quarter valued at about $117,000. Institutional investors own 68.77% of the company’s stock.

About Weibo

(Get Free Report)

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.

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