Weibo (NASDAQ:WB) Hits New 1-Year Low – Time to Sell?

Weibo Corporation (NASDAQ:WB) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $6.10 and last traded at $6.1050, with a volume of 472,726 shares. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WB shares. The Goldman Sachs Group set a $6.70 price target on shares of Weibo in a research note on Friday, October 23rd. Citigroup downgraded shares of Weibo from a “buy” rating to a “neutral” rating and lowered their price target for the company from $9.30 to $7.80 in a report on Thursday, August 20th. Zacks Research upgraded Weibo from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Weibo in a research note on Thursday, October 22nd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Weibo presently has an average rating of “Reduce” and an average target price of $8.10.

Weibo Stock Down 0.2%

The company’s 50 day moving average is $6.64 and its 200 day moving average is $8.24. The company has a market cap of $1.51 billion, a PE ratio of 5.10 and a beta of 0.17. The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $453.83 million for the quarter, compared to analysts’ expectations of $442.45 million. Weibo had a return on equity of 8.87% and a net margin of 17.78%. As a group, analysts predict that Weibo Corporation will post 1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weibo

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in Weibo by 337.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Weibo by 67.5% during the third quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock worth $41,000 after buying an additional 2,550 shares during the period. Nykredit A S purchased a new stake in shares of Weibo during the second quarter valued at $93,000. QRG Capital Management Inc. grew its holdings in shares of Weibo by 15.2% during the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after buying an additional 3,090 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of Weibo in the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.