Weibo (NASDAQ:WB) Reaches New 1-Year Low – Here’s What Happened

Weibo Corporation (NASDAQ:WB)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $6.59 and last traded at $6.5950, with a volume of 304093 shares traded. The stock had previously closed at $6.64.

Analysts Set New Price Targets

A number of brokerages have recently commented on WB. Weiss Ratings reissued a “sell (d+)” rating on shares of Weibo in a research note on Friday, July 24th. Benchmark reiterated a “hold” rating on shares of Weibo in a report on Thursday, August 20th. Bank of America reissued an “underperform” rating on shares of Weibo in a research report on Friday, August 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Finally, Zacks Research raised shares of Weibo from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Weibo currently has an average rating of “Reduce” and an average target price of $8.80.

Weibo Trading Down 0.5%

The company has a current ratio of 3.59, a quick ratio of 3.59 and a debt-to-equity ratio of 0.46. The business has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $8.10. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 5.46, a price-to-earnings-growth ratio of 4.22 and a beta of 0.18.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Weibo had a return on equity of 8.87% and a net margin of 17.78%.The company had revenue of $453.83 million during the quarter, compared to analysts’ expectations of $442.45 million. As a group, equities analysts anticipate that Weibo Corporation will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WB. Sei Investments Co. increased its position in shares of Weibo by 39.6% in the 1st quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock worth $5,115,000 after purchasing an additional 165,936 shares during the last quarter. Saba Capital Management L.P. lifted its position in shares of Weibo by 21.0% during the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares during the last quarter. Wellington Management Group LLP grew its stake in Weibo by 41.9% in the second quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock worth $17,158,000 after purchasing an additional 697,778 shares in the last quarter. XY Capital Ltd increased its holdings in Weibo by 94.1% in the fourth quarter. XY Capital Ltd now owns 198,356 shares of the information services provider’s stock valued at $2,027,000 after buying an additional 96,150 shares during the last quarter. Finally, Alpine Investment Management Ltd bought a new stake in Weibo in the fourth quarter valued at about $3,945,000. 68.77% of the stock is currently owned by institutional investors.

About Weibo

Weibo Corporation (NASDAQ: WB) operates a social media platform in China that enables users to create, share and discover short-form content. Often described as a microblogging service, Weibo supports public posts, multimedia content, hashtags, trending topics, comments, direct messaging and interactions among users, public figures, media organizations and businesses.

The company generates revenue primarily through advertising and marketing services, including promoted content, display advertising and advertising products designed to help brands reach targeted audiences.