Weibo (NASDAQ:WB) Reaches New 12-Month Low – Here’s What Happened

Weibo Corporation (NASDAQ:WB) reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $6.47 and last traded at $6.4850, with a volume of 73868 shares trading hands. The stock had previously closed at $6.53.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WB. Zacks Research upgraded Weibo from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $9.80 price objective on shares of Weibo in a research note on Thursday, May 28th. Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Finally, Benchmark restated a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $8.80.

Weibo Stock Down 0.4%

The firm has a market capitalization of $1.60 billion, a PE ratio of 5.38 and a beta of 0.18. The business’s fifty day moving average price is $7.29 and its 200 day moving average price is $7.92. 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 released its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Weibo had a return on equity of 8.87% and a net margin of 17.78%. On average, equities research analysts forecast that Weibo Corporation will post 1.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its position in Weibo by 39.6% in the 1st quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock valued at $5,115,000 after buying an additional 165,936 shares during the last quarter. Saba Capital Management L.P. increased its stake in Weibo by 21.0% in the 1st quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock valued at $21,327,000 after buying an additional 422,294 shares during the period. Wellington Management Group LLP raised its position in Weibo by 41.9% during the 2nd quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock worth $17,158,000 after buying an additional 697,778 shares during the last quarter. XY Capital Ltd raised its position in Weibo by 94.1% during the 4th quarter. XY Capital Ltd now owns 198,356 shares of the information services provider’s stock worth $2,027,000 after buying an additional 96,150 shares during the last quarter. Finally, Alpine Investment Management Ltd acquired a new stake in shares of Weibo in the 4th quarter worth $3,945,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Company Profile

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.