Weibo (NASDAQ:WB) Reaches New 12-Month High - What's Next?

Key Points

• Weibo's stock reached a new 52-week high, trading as high as $12.80 and last trading at $12.82, with a trading volume of 554,347 shares.
• Citigroup raised its price target for Weibo from $12.00 to $14.00 and maintains a "buy" rating, contributing to the stock's "Moderate Buy" average rating.
• Weibo reported a quarterly EPS of $0.54, beating estimates significantly, with a revenue of $444.80 million, also above expectations.

Weibo Corporation (NASDAQ:WB - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $12.80 and last traded at $12.82, with a volume of 554347 shares changing hands. The stock had previously closed at $12.25.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price objective on Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, August 15th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Weibo Price Performance

The stock has a market cap of $3.09 billion, a P/E ratio of 9.00 and a beta of 0.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 3.65. The business's fifty day moving average price is $10.67 and its 200 day moving average price is $9.69.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.27. The business had revenue of $444.80 million during the quarter, compared to analyst estimates of $438.84 million. Weibo had a net margin of 21.10% and a return on equity of 12.65%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. Sell-side analysts forecast that Weibo Corporation will post 1.62 EPS for the current fiscal year.

Institutional Trading of Weibo

Large investors have recently modified their holdings of the stock. Shell Asset Management Co. acquired a new stake in Weibo in the 4th quarter valued at $54,000. Daiwa Securities Group Inc. acquired a new stake in Weibo in the 2nd quarter valued at $61,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Weibo by 22.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock valued at $110,000 after purchasing an additional 2,135 shares during the period. AQR Capital Management LLC acquired a new stake in Weibo in the 1st quarter valued at $117,000. Finally, Fox Run Management L.L.C. acquired a new stake in Weibo in the 2nd quarter valued at $136,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.