Weibo (NASDAQ:WB) Shares Gap Up to $9.91

Weibo Co. (NASDAQ:WB)’s share price gapped up before the market opened on Monday . The stock had previously closed at $9.91, but opened at $10.46. Weibo shares last traded at $10.77, with a volume of 1,627,629 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WB shares. Nomura Securities raised Weibo to a “hold” rating in a research note on Monday, August 26th. Morgan Stanley reduced their price target on shares of Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report 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 company. According to data from MarketBeat.com, Weibo currently has an average rating of “Hold” and a consensus price target of $9.88.

Weibo Stock Up 4.3 %

The firm’s 50-day moving average is $7.74 and its 200 day moving average is $8.35. The firm has a market capitalization of $2.42 billion, a P/E ratio of 8.91, a PEG ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.34 and a current ratio of 2.34.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 22nd. The information services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. The business had revenue of $437.90 million for the quarter, compared to analyst estimates of $437.97 million. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The firm’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. As a group, equities research analysts predict that Weibo Co. will post 1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Weibo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. increased its holdings in shares of 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 worth $1,222,000 after purchasing an additional 6,000 shares during the period. SG Americas Securities LLC grew its holdings 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 during the 2nd quarter valued at $82,000. Bayesian Capital Management LP acquired a new position in Weibo in the 1st quarter worth about $123,000. Finally, Seven Eight Capital LP bought a new position in Weibo in the second quarter valued at about $110,000. 68.77% of the stock is owned by institutional investors.

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.