Weibo (NASDAQ:WB) Shares Gap Down – What’s Next?

Weibo Co. (NASDAQ:WB) gapped down prior to trading on Thursday . The stock had previously closed at $9.29, but opened at $8.99. Weibo shares last traded at $8.96, with a volume of 211,355 shares traded.

Analyst Ratings Changes

WB has been the subject of several analyst reports. Morgan Stanley reduced their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Friday, August 23rd. StockNews.com lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup lifted their target price on shares of Weibo from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Nomura Securities upgraded shares of Weibo to a “hold” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.23.

Weibo Stock Up 3.4 %

The business’s 50-day moving average price is $8.49 and its 200-day moving average price is $8.46. The firm has a market capitalization of $2.13 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 1.63 and a beta of 0.23. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55.

Weibo (NASDAQ:WB) last released its earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. Weibo had a net margin of 18.52% and a return on equity of 11.01%. The company had revenue of $437.90 million during the quarter, compared to the consensus estimate of $437.97 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Weibo Co. will post 1.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Weibo

A number of hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Weibo by 199.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,075,326 shares of the information services provider’s stock worth $33,675,000 after buying an additional 2,047,135 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Weibo by 204.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,433,509 shares of the information services provider’s stock worth $18,678,000 after acquiring an additional 1,634,230 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Weibo during the 1st quarter valued at about $7,435,000. Krane Funds Advisors LLC raised its stake in shares of Weibo by 17.4% in the 2nd quarter. Krane Funds Advisors LLC now owns 3,803,752 shares of the information services provider’s stock valued at $29,213,000 after acquiring an additional 564,068 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Weibo by 64.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,309,385 shares of the information services provider’s stock worth $10,056,000 after purchasing an additional 511,248 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.