Weibo (NASDAQ:WB) Shares Gap Up to $7.89

Weibo Co. (NASDAQ:WB) gapped up prior to trading on Thursday . The stock had previously closed at $7.89, but opened at $8.07. Weibo shares last traded at $7.89, with a volume of 138,189 shares.

Analysts Set New Price Targets

Separately, Morgan Stanley decreased their price target on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.23.

Weibo Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $7.97 and its 200 day moving average is $8.61. The company has a market cap of $1.82 billion, a P/E ratio of 6.53, a PEG ratio of 1.45 and a beta of 0.21.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, May 23rd. The information services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Weibo had a return on equity of 10.92% and a net margin of 16.74%. The business had revenue of $395.50 million during the quarter, compared to the consensus estimate of $396.50 million. As a group, sell-side analysts anticipate that Weibo Co. will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Weibo

Several large investors have recently modified their holdings of WB. ARGA Investment Management LP grew its position in shares of Weibo by 14.5% in the fourth quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock valued at $74,740,000 after purchasing an additional 864,120 shares in the last quarter. Krane Funds Advisors LLC grew its holdings 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 buying an additional 564,068 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after buying an additional 2,047,135 shares during the period. Acadian Asset Management LLC increased its position in shares of Weibo by 204.5% during the second quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock valued at $18,678,000 after buying an additional 1,634,230 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position 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 valued at $10,056,000 after acquiring an additional 511,248 shares during the period. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.