Weibo (WB) Trading Up 6.6%

Weibo Corp (NASDAQ:WB) shares were up 6.6% during mid-day trading on Friday . The stock traded as high as $64.35 and last traded at $63.68. Approximately 3,607,915 shares traded hands during trading, an increase of 59% from the average daily volume of 2,263,053 shares. The stock had previously closed at $59.73.

Several research analysts have issued reports on WB shares. Barclays set a $90.00 price objective on Weibo and gave the stock a “buy” rating in a research note on Thursday, October 18th. Jefferies Financial Group dropped their price objective on Weibo from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 9th. Benchmark dropped their price objective on Weibo from $148.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, November 5th. TH Capital dropped their price objective on Weibo and set a “buy” rating for the company in a research note on Wednesday, November 14th. Finally, Morgan Stanley set a $72.00 price objective on Weibo and gave the stock a “buy” rating in a research note on Tuesday, November 27th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $98.57.

The company has a market cap of $14.09 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.41. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97.

Weibo (NASDAQ:WB) last announced its earnings results on Wednesday, November 28th. The information services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Weibo had a return on equity of 40.60% and a net margin of 33.23%. The company had revenue of $460.20 million during the quarter, compared to analyst estimates of $459.68 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 43.8% compared to the same quarter last year. On average, equities research analysts forecast that Weibo Corp will post 2.44 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in WB. BB&T Corp increased its position in Weibo by 6.7% in the second quarter. BB&T Corp now owns 10,670 shares of the information services provider’s stock worth $947,000 after purchasing an additional 667 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Weibo by 43.8% in the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after purchasing an additional 700 shares during the period. Andra AP fonden increased its position in Weibo by 1.7% in the second quarter. Andra AP fonden now owns 41,700 shares of the information services provider’s stock worth $3,701,000 after purchasing an additional 700 shares during the period. Comerica Bank increased its position in Weibo by 6.9% in the third quarter. Comerica Bank now owns 12,341 shares of the information services provider’s stock worth $726,000 after purchasing an additional 793 shares during the period. Finally, Bessemer Group Inc. increased its position in Weibo by 17.4% in the third quarter. Bessemer Group Inc. now owns 5,868 shares of the information services provider’s stock worth $429,000 after purchasing an additional 869 shares during the period. Institutional investors own 23.52% of the company’s stock.

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Weibo Company Profile (NASDAQ:WB)

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

See Also: How Do You Calculate Return on Equity (ROE)?

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