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

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. The stock had previously closed at $6.53.

Wall Street Analysts Forecast Growth

WB has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Bank of America reissued an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Jefferies Financial Group restated a “buy” rating and issued a $9.80 price target on shares of Weibo in a research note on Thursday, May 28th. Finally, Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and decreased their price target for the company from $9.30 to $7.80 in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Weibo has an average rating of “Reduce” and a consensus price target of $8.80.

Weibo Trading Down 0.4%

The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $7.29 and its 200 day moving average is $7.92. The stock has a market cap of $1.60 billion, a PE ratio of 5.38 and a beta of 0.18.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $453.83 million during the quarter, compared to analysts’ expectations of $442.45 million. As a group, analysts predict that Weibo Corporation will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Saba Capital Management L.P. raised its holdings in Weibo by 21.0% during the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares during the last quarter. Wellington Management Group LLP grew its holdings in Weibo by 41.9% in the second quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock valued at $17,158,000 after purchasing an additional 697,778 shares during the last quarter. Sei Investments Co. increased its position in shares of Weibo by 39.6% in the first 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 in the last quarter. Alpine Investment Management Ltd acquired a new position in shares of Weibo during the 4th quarter worth $3,945,000. Finally, XY Capital Ltd raised its stake in shares of 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. 68.77% of the stock is owned by institutional investors and hedge funds.

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.