Weibo (NASDAQ:WB) Shares Gap Down to $11.20

Weibo Co. (NASDAQ:WB)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.20, but opened at $10.51. Weibo shares last traded at $10.63, with a volume of 404,478 shares.

Analyst Ratings Changes

Several equities research analysts have commented on WB shares. Morgan Stanley lowered their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Citigroup upped their price objective on shares of Weibo from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday. Finally, Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.23.

Weibo Trading Down 5.6 %

The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.67 and a beta of 0.22. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The business’s fifty day moving average is $7.92 and its 200 day moving average is $8.38.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.10. The firm had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.97 million. Weibo had a return on equity of 11.01% and a net margin of 18.52%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities analysts predict that Weibo Co. will post 1.48 earnings per share for the current year.

Institutional Investors Weigh In On Weibo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WB. Edmond DE Rothschild Holding S.A. boosted its position in Weibo by 4.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock valued at $1,222,000 after purchasing an additional 6,000 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Weibo by 21.5% during the 2nd quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock worth $397,000 after purchasing an additional 9,143 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in shares of Weibo in the 2nd quarter valued at approximately $82,000. Bayesian Capital Management LP bought a new position in shares of Weibo in the first quarter valued at $123,000. Finally, Seven Eight Capital LP acquired a new position in Weibo during the second quarter worth $110,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

Weibo Company Profile

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.