Weibo (NASDAQ:WB) Sees Strong Trading Volume on Better-Than-Expected Earnings

Shares of Weibo Corporation (NASDAQ:WB) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. 970,207 shares were traded during trading, a decline of 13% from the previous session’s volume of 1,118,593 shares.The stock last traded at $7.0650 and had previously closed at $7.49.

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 business had revenue of $453.83 million during the quarter, compared to analyst estimates of $442.45 million. Weibo had a net margin of 21.15% and a return on equity of 9.90%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Weibo from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.80.

Institutional Trading of Weibo

Hedge funds have recently bought and sold shares of the stock. WealthCollab LLC lifted its position in shares of Weibo by 50.1% in the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock worth $52,000 after acquiring an additional 1,709 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Weibo by 4.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,428 shares of the information services provider’s stock worth $514,000 after buying an additional 1,860 shares during the last quarter. Vise Technologies Inc. grew its position in Weibo by 12.1% during the 3rd quarter. Vise Technologies Inc. now owns 21,009 shares of the information services provider’s stock worth $261,000 after acquiring an additional 2,270 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Weibo by 14.6% during the third quarter. CANADA LIFE ASSURANCE Co now owns 18,674 shares of the information services provider’s stock worth $233,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in Weibo by 1.1% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 229,951 shares of the information services provider’s stock worth $2,350,000 after acquiring an additional 2,463 shares during the last quarter. 68.77% of the stock is owned by institutional investors.

Weibo Price Performance

The company’s 50 day moving average price is $7.67 and its 200 day moving average price is $8.52. The firm has a market capitalization of $1.73 billion, a P/E ratio of 4.94, a PEG ratio of 4.56 and a beta of 0.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.02 and a quick ratio of 3.02.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.