Weibo (NASDAQ:WB) Shares Gap Up to $7.76

Weibo Co. (NASDAQ:WB) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.76, but opened at $8.20. Weibo shares last traded at $8.29, with a volume of 377,384 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley reduced their target price on Weibo from $8.00 to $7.50 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Nomura Securities upgraded Weibo to a “hold” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.88.

Weibo Trading Up 8.1 %

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.96 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 1.22 and a beta of 0.22. The business has a fifty day moving average price of $7.66 and a 200 day moving average price of $8.36.

Weibo (NASDAQ:WB) last issued its quarterly earnings results on Thursday, August 22nd. The information services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $437.97 million. During the same period last year, the business earned $0.42 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts expect that Weibo Co. will post 1.48 earnings per share for the current fiscal year.

Institutional Trading of Weibo

Hedge funds have recently added to or reduced their stakes in the company. Deltec Asset Management LLC acquired a new stake in shares of Weibo during the second quarter worth $82,000. Seven Eight Capital LP bought a new stake in Weibo in the 2nd quarter valued at about $110,000. Bayesian Capital Management LP acquired a new position in shares of Weibo during the 1st quarter worth approximately $123,000. XY Capital Ltd bought a new stake in shares of Weibo during the 1st quarter valued at $140,000. Finally, Caxton Associates LP raised its position in Weibo by 55.9% during the second quarter. Caxton Associates LP now owns 50,239 shares of the information services provider’s stock valued at $386,000 after purchasing an additional 18,008 shares in the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.