Weibo (NASDAQ:WB) Sets New 52-Week Low – Here’s What Happened

Weibo Corporation (NASDAQ:WB) reached a new 52-week low on Tuesday . The stock traded as low as $6.59 and last traded at $6.5950, with a volume of 304093 shares. The stock had previously closed at $6.64.

Analysts Set New Price Targets

Several research analysts have commented on WB shares. Bank of America reaffirmed an “underperform” rating on shares of Weibo in a research report on Friday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Zacks Research raised shares of Weibo from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Citigroup cut shares of Weibo from a “buy” rating to a “neutral” rating and reduced their target price for the company from $9.30 to $7.80 in a research note on Thursday, August 20th. Finally, Benchmark restated a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Weibo currently has an average rating of “Reduce” and a consensus target price of $8.80.

Weibo Trading Down 1.7%

The company has a market cap of $1.60 billion, a price-to-earnings ratio of 5.37, a price-to-earnings-growth ratio of 4.21 and a beta of 0.18. The company’s fifty day moving average price is $7.43 and its two-hundred day moving average price is $8.05. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.46.

Weibo (NASDAQ:WB) last issued its quarterly earnings data on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo had a net margin of 17.78% and a return on equity of 8.87%. The firm had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Research analysts expect that Weibo Corporation will post 1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Weibo by 337.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after acquiring an additional 2,990 shares during the last quarter. Nykredit A S bought a new position in Weibo in the second quarter valued at about $93,000. FourThought Financial Partners LLC acquired a new stake in Weibo in the fourth quarter worth about $110,000. Tidal Investments LLC acquired a new stake in Weibo in the second quarter worth about $208,000. Finally, Jefferies Financial Group Inc. bought a new stake in Weibo during the 4th quarter worth about $228,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

Weibo Corporation (NASDAQ: WB) operates a social media platform in China that enables users to create, share and discover short-form content. Often described as a microblogging service, Weibo supports public posts, multimedia content, hashtags, trending topics, comments, direct messaging and interactions among users, public figures, media organizations and businesses.

The company generates revenue primarily through advertising and marketing services, including promoted content, display advertising and advertising products designed to help brands reach targeted audiences.