Weibo (NASDAQ:WB) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

Weibo Corporation (NASDAQ:WB) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $6.51 and traded as high as $6.59. Weibo shares last traded at $6.53, with a volume of 643,492 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a report on Thursday, October 22nd. Citigroup downgraded Weibo from a “buy” rating to a “neutral” rating and cut their price target for the stock from $9.30 to $7.80 in a research note on Thursday, August 20th. Benchmark reiterated a “hold” rating on shares of Weibo in a report on Thursday, August 20th. Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Finally, Bank of America restated an “underperform” rating on shares of Weibo in a research report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Weibo currently has a consensus rating of “Reduce” and a consensus price target of $8.10.

Weibo Stock Performance

The stock has a 50 day moving average price of $6.51 and a two-hundred day moving average price of $8.06. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 5.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.59 and a quick ratio of 3.59.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $442.45 million. On average, analysts predict that Weibo Corporation will post 1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. grew its holdings in Weibo by 67.5% during the third quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 2,550 shares during the period. QRG Capital Management Inc. increased its position in 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 acquiring an additional 3,090 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Weibo during the 2nd quarter valued at about $208,000. Squarepoint Ops LLC grew its stake in Weibo by 55.0% during the 2nd quarter. Squarepoint Ops LLC now owns 101,006 shares of the information services provider’s stock worth $733,000 after purchasing an additional 35,831 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Weibo in the 2nd quarter valued at about $93,000. Institutional investors and hedge funds 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.