Weibo (NASDAQ:WB) Hits New 12-Month Low – Here’s Why

Weibo Corporation (NASDAQ:WB) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $6.66 and last traded at $6.6850, with a volume of 197759 shares traded. The stock had previously closed at $6.72.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Bank of America restated an “underperform” rating on shares of Weibo in a research note on Friday, August 21st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weibo in a report on Friday, July 24th. Jefferies Financial Group reiterated a “buy” rating and set a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Finally, Citigroup lowered Weibo from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $9.30 to $7.80 in a report on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.80.

Weibo Stock Down 1.0%

The firm’s 50-day moving average price is $7.52 and its 200 day moving average price is $8.18. 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 company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 4.27 and a beta of 0.18.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, August 20th. The information services provider reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Weibo had a net margin of 17.78% and a return on equity of 8.87%. The business had revenue of $453.83 million for the quarter, compared to analysts’ expectations of $442.45 million. On average, sell-side analysts forecast that Weibo Corporation will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Weibo

A number of institutional investors have recently modified their holdings of WB. Sei Investments Co. increased its position in Weibo by 39.6% during 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 in the last quarter. Saba Capital Management L.P. boosted its position in Weibo by 21.0% in the first quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock valued at $21,327,000 after buying an additional 422,294 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Weibo by 41.9% during 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 buying an additional 697,778 shares during the last quarter. UBS Group AG grew its stake in shares of Weibo by 15.9% during the fourth quarter. UBS Group AG now owns 1,596,371 shares of the information services provider’s stock worth $16,315,000 after buying an additional 218,666 shares during the last quarter. Finally, XY Capital Ltd increased its holdings in shares of Weibo by 94.1% during the fourth quarter. XY Capital Ltd now owns 198,356 shares of the information services provider’s stock worth $2,027,000 after buying an additional 96,150 shares in the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

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.