Weibo (NASDAQ:WB) Sees Strong Trading Volume on Strong Earnings

Weibo Corporation (NASDAQ:WB) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 970,207 shares were traded during mid-day 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 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 the consensus estimate of $442.45 million. Weibo had a net margin of 21.15% and a return on equity of 9.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WB. Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 price objective on shares of Weibo in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weibo in a research report on Friday, July 24th. Finally, Zacks Research raised Weibo from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.80.

Institutional Investors Weigh In On Weibo

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Weibo by 337.5% during the first 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 period. WealthCollab LLC grew its holdings in Weibo by 50.1% in the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock valued at $52,000 after buying an additional 1,709 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in Weibo during the 2nd quarter worth $61,000. FourThought Financial Partners LLC bought a new stake in shares of Weibo in the fourth quarter valued at about $110,000. Finally, AQR Capital Management LLC bought a new stake in shares of Weibo in the first quarter valued at about $117,000. Institutional investors own 68.77% of the company’s stock.

Weibo Price Performance

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

Weibo Company Profile

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.