Shares of Weibo Co. (NASDAQ:WB – Get Free Report) gapped down prior to trading on Friday after Bank of America lowered their price target on the stock from $24.00 to $19.50. The stock had previously closed at $13.70, but opened at $13.35. Weibo shares last traded at $12.64, with a volume of 290,946 shares trading hands.
Other research analysts have also recently issued research reports about the company. 58.com reiterated a “downgrade” rating on shares of Weibo in a research note on Tuesday, June 13th. StockNews.com started coverage on shares of Weibo in a report on Thursday, August 17th. They set a “buy” rating for the company. HSBC reduced their price target on shares of Weibo from $18.00 to $14.60 in a research report on Friday. Benchmark cut Weibo from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Citigroup lowered their price target on Weibo from $20.00 to $18.00 in a report on Friday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Weibo has an average rating of “Hold” and a consensus price target of $22.46.
Hedge Funds Weigh In On Weibo
Several hedge funds have recently made changes to their positions in WB. GTS Securities LLC purchased a new position in Weibo during the 2nd quarter worth approximately $657,000. XTX Topco Ltd bought a new position in Weibo during the second quarter valued at about $152,000. Y Intercept Hong Kong Ltd bought a new position in shares of Weibo in the second quarter valued at approximately $663,000. Caxton Associates LP acquired a new position in shares of Weibo during the 2nd quarter worth about $546,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Weibo by 16.4% during the 2nd quarter. Lazard Asset Management LLC now owns 527,964 shares of the information services provider’s stock worth $6,921,000 after purchasing an additional 74,270 shares during the period. Institutional investors and hedge funds own 29.94% of the company’s stock.
Weibo Stock Performance
The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $13.85 and a 200 day simple moving average of $16.39. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 11.60 and a beta of 0.55.
Weibo (NASDAQ:WB – Get Free Report) last announced its earnings results on Thursday, August 24th. The information services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $440.20 million during the quarter, compared to analyst estimates of $442.66 million. Weibo had a return on equity of 12.30% and a net margin of 14.36%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. As a group, sell-side analysts expect that Weibo Co. will post 1.7 earnings per share for the current 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.