Weibo (NASDAQ:WB) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Weibo Corporation (NASDAQ:WB) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.69 and traded as high as $8.16. Weibo shares last traded at $8.08, with a volume of 744,038 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on WB. Jefferies Financial Group reissued a “buy” rating and issued a $9.80 price target on shares of Weibo in a report on Thursday, May 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Finally, Zacks Research cut shares of Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.90.

Weibo Stock Performance

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $7.69 and a 200-day simple moving average of $8.76. The company has a market capitalization of $1.98 billion, a P/E ratio of 5.65, a PEG ratio of 4.91 and a beta of 0.18.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Weibo had a return on equity of 9.90% and a net margin of 21.15%.The firm had revenue of $421.33 million for the quarter, compared to analyst estimates of $416.76 million. During the same quarter last year, the business earned $0.45 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts forecast that Weibo Corporation will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Weibo

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings 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 valued at $34,000 after purchasing an additional 2,990 shares in the last quarter. WealthCollab LLC grew its holdings in shares of Weibo by 50.1% during the fourth quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock worth $52,000 after purchasing an additional 1,709 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Weibo in the second quarter valued at $61,000. FourThought Financial Partners LLC acquired a new stake in shares of Weibo in the fourth quarter valued at $110,000. Finally, AQR Capital Management LLC bought a new position in shares of Weibo in the first quarter valued at about $117,000. 68.77% of the stock is currently owned by institutional investors.

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.