Weibo (NASDAQ:WB) Shares Gap Up to $7.76

Weibo Co. (NASDAQ:WB) gapped up before the market opened on Tuesday . The stock had previously closed at $7.76, but opened at $8.20. Weibo shares last traded at $8.29, with a volume of 377,384 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WB shares. Nomura Securities raised shares of Weibo to a “hold” rating in a report on Monday, August 26th. Morgan Stanley decreased their target price on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Weibo currently has an average rating of “Hold” and an average target price of $9.88.

Weibo Trading Up 8.1 %

The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 1.22 and a beta of 0.22. The firm’s 50-day moving average is $7.66 and its 200 day moving average is $8.36.

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

Institutional Trading of Weibo

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WB. Millennium Management LLC increased its position in shares of Weibo by 56.1% during the second quarter. Millennium Management LLC now owns 726,940 shares of the information services provider’s stock worth $5,583,000 after buying an additional 261,180 shares during the period. Caxton Associates LP grew its stake in Weibo by 55.9% during the second quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock worth $386,000 after purchasing an additional 18,008 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Weibo by 64.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after buying an additional 511,248 shares during the period. Seven Eight Capital LP acquired a new position in shares of Weibo during the second quarter valued at about $110,000. Finally, Hsbc Holdings PLC boosted its position in shares of Weibo by 42.1% during the second quarter. Hsbc Holdings PLC now owns 59,890 shares of the information services provider’s stock valued at $460,000 after buying an additional 17,749 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.