Weibo (NASDAQ:WB) Sets New 1-Year Low – Should You Sell?

Weibo Corporation (NASDAQ:WB)’s stock price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $6.10 and last traded at $6.1050, with a volume of 472,726 shares. The stock had previously closed at $6.18.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WB. Weiss Ratings restated a “sell (d+)” rating on shares of Weibo in a research report on Thursday, October 22nd. Bank of America reiterated an “underperform” rating on shares of Weibo in a research report on Friday, August 21st. Citigroup cut Weibo from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $9.30 to $7.80 in a research report on Thursday, August 20th. Benchmark restated a “hold” rating on shares of Weibo in a research report on Thursday, August 20th. Finally, The Goldman Sachs Group set a $6.70 price target on Weibo in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Weibo presently has an average rating of “Reduce” and a consensus target price of $8.10.

Weibo Stock Performance

The stock has a market cap of $1.55 billion, a PE ratio of 5.19 and a beta of 0.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.59 and a quick ratio of 3.59. The firm has a 50 day moving average of $6.59 and a two-hundred day moving average of $8.20.

Weibo (NASDAQ:WB) last announced its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $453.83 million for the quarter, compared to analyst estimates of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. Research analysts predict that Weibo Corporation will post 1.02 EPS for the current fiscal year.

Institutional Trading of Weibo

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Weibo by 337.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after acquiring an additional 2,990 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Weibo by 67.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 6,325 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 2,550 shares during the last quarter. Nykredit A S purchased a new position in Weibo during the 2nd quarter valued at about $93,000. QRG Capital Management Inc. lifted its holdings in shares of Weibo by 15.2% in the second quarter. QRG Capital Management Inc. now owns 23,465 shares of the information services provider’s stock valued at $170,000 after purchasing an additional 3,090 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Weibo during the 2nd quarter worth approximately $208,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

About Weibo

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.