Weibo Co. (NASDAQ:WB – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $37.00 to $32.60. The stock traded as low as $12.90 and last traded at $13.14, with a volume of 3975 shares traded. The stock had previously closed at $13.60.
A number of other research firms have also recently weighed in on WB. HSBC lowered their target price on shares of Weibo from $26.00 to $22.00 and set a “hold” rating on the stock in a research note on Friday, September 2nd. StockNews.com began coverage on shares of Weibo in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Weibo in a research note on Monday, September 5th. They issued a “hold” rating on the stock. OTR Global cut shares of Weibo from a “mixed” rating to a “negative” rating in a research note on Monday, August 15th. Finally, Benchmark decreased their price objective on shares of Weibo from $39.00 to $32.00 in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Weibo has an average rating of “Hold” and a consensus target price of $35.51.
Institutional Investors Weigh In On Weibo
Hedge funds have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. lifted its position in Weibo by 137.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 36,973 shares of the information services provider’s stock valued at $887,000 after acquiring an additional 21,420 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Weibo by 14.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,062 shares of the information services provider’s stock worth $737,000 after buying an additional 3,813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Weibo by 5.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 138,356 shares of the information services provider’s stock worth $3,391,000 after buying an additional 7,172 shares in the last quarter. Signaturefd LLC lifted its stake in Weibo by 171.0% in the 1st quarter. Signaturefd LLC now owns 3,751 shares of the information services provider’s stock valued at $92,000 after acquiring an additional 2,367 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Weibo by 18.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock worth $292,000 after acquiring an additional 1,861 shares in the last quarter. 29.08% of the stock is currently owned by institutional investors and hedge funds.
Weibo Stock Down 4.0 %
The stock’s fifty day moving average price is $17.78 and its 200-day moving average price is $20.36. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 2.54 and a beta of 0.68.
Weibo (NASDAQ:WB – Get Rating) last issued its quarterly earnings results on Thursday, September 1st. The information services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. Weibo had a net margin of 11.96% and a return on equity of 14.05%. The firm had revenue of $450.20 million for the quarter, compared to analyst estimates of $449.41 million. During the same period in the previous year, the business earned $0.35 EPS. The company’s revenue was down 21.6% compared to the same quarter last year. On average, sell-side analysts predict that Weibo Co. will post 1.85 earnings per share for the current fiscal year.
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.