Weibo (WB) Stock Price Down 1.4%

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Weibo Corp (NASDAQ:WB) was down 1.4% during mid-day trading on Thursday . The company traded as low as $56.44 and last traded at $55.71. Approximately 274,424 shares changed hands during trading, a decline of 88% from the average daily volume of 2,211,846 shares. The stock had previously closed at $56.50.

WB has been the topic of several recent analyst reports. ValuEngine upgraded Weibo from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. OTR Global initiated coverage on Weibo in a report on Monday, August 6th. They issued a “positive” rating on the stock. JPMorgan Chase & Co. initiated coverage on Weibo in a report on Wednesday, August 29th. They issued an “overweight” rating and a $118.00 price target on the stock. Zacks Investment Research downgraded Weibo from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Finally, Jefferies Financial Group reduced their price target on Weibo from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $131.71.

The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 38.23 and a beta of 2.33.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Weibo had a return on equity of 37.75% and a net margin of 32.03%. The firm had revenue of $426.60 million for the quarter, compared to the consensus estimate of $426.54 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 68.4% on a year-over-year basis. As a group, analysts expect that Weibo Corp will post 2.54 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in WB. Schwab Charles Investment Management Inc. grew its stake in Weibo by 124.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 26,549 shares of the information services provider’s stock worth $3,174,000 after purchasing an additional 14,712 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Weibo by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 89,212 shares of the information services provider’s stock worth $10,664,000 after purchasing an additional 4,051 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Weibo by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,666 shares of the information services provider’s stock worth $1,036,000 after purchasing an additional 769 shares in the last quarter. Principal Financial Group Inc. grew its stake in Weibo by 3.8% in the first quarter. Principal Financial Group Inc. now owns 277,659 shares of the information services provider’s stock worth $33,192,000 after purchasing an additional 10,244 shares in the last quarter. Finally, BB&T Securities LLC bought a new position in Weibo in the first quarter worth approximately $284,000. 27.49% of the stock is currently owned by institutional investors.

Weibo Company Profile (NASDAQ:WB)

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates through two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.

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