Weibo (NASDAQ:WB) Shares Up 3.7%

Weibo Co. (NASDAQ:WB)’s stock price rose 3.7% during mid-day trading on Tuesday . The company traded as high as $8.03 and last traded at $8.03. Approximately 684,788 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,143,400 shares. The stock had previously closed at $7.74.

Wall Street Analysts Forecast Growth

WB has been the subject of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $10.60 target price on shares of Weibo in a research note on Thursday, March 28th. Morgan Stanley cut Weibo from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $11.00 to $10.00 in a research note on Friday, May 17th. UBS Group raised Weibo from a “neutral” rating to a “buy” rating and decreased their target price for the company from $12.90 to $11.50 in a research note on Tuesday, March 19th. Finally, HSBC decreased their target price on Weibo from $13.60 to $9.80 and set a “hold” rating for the company in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Weibo currently has a consensus rating of “Hold” and an average target price of $11.65.

Weibo Stock Up 3.6 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 1.29 and a beta of 0.21. The firm has a 50-day moving average price of $8.74 and a two-hundred day moving average price of $9.01.

Weibo (NASDAQ:WB) last posted its quarterly earnings data on Thursday, May 23rd. The information services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Weibo had a return on equity of 10.92% and a net margin of 16.74%. The company had revenue of $395.50 million during the quarter, compared to analysts’ expectations of $396.50 million. As a group, sell-side analysts anticipate that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Weibo by 199.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock valued at $33,675,000 after buying an additional 2,047,135 shares during the period. ARGA Investment Management LP raised its stake in Weibo by 14.5% in the fourth quarter. ARGA Investment Management LP now owns 6,825,571 shares of the information services provider’s stock valued at $74,740,000 after buying an additional 864,120 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Weibo in the first quarter valued at approximately $7,435,000. BNP Paribas Financial Markets raised its stake in Weibo by 408.0% in the fourth quarter. BNP Paribas Financial Markets now owns 872,496 shares of the information services provider’s stock valued at $9,554,000 after buying an additional 700,758 shares during the period. Finally, Ghisallo Capital Management LLC bought a new stake in Weibo in the fourth quarter valued at approximately $4,521,000. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

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.