Weibo (NASDAQ:WB) Hits New 52-Week 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.

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

Analyst Ratings Changes

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

Weibo Price Performance

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 company's 50 day simple moving average is $10.90 and its 200 day simple moving average is $9.77. The stock has a market cap of $3.08 billion, a P/E ratio of 8.91 and a beta of 0.08.

Weibo (NASDAQ:WB - Get Free Report) last posted its earnings results on Thursday, August 14th. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. The business had revenue of $444.80 million during the quarter, compared to analysts' expectations of $438.84 million. Weibo had a return on equity of 12.65% and a net margin of 21.10%.Weibo's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. As a group, equities analysts forecast that Weibo Corporation will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

Several hedge funds have recently modified their holdings of WB. Daiwa Securities Group Inc. bought a new position in Weibo in the second quarter valued at approximately $61,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 bought a new stake in shares of Weibo in the first quarter valued at about $117,000. Fox Run Management L.L.C. bought a new stake in shares of Weibo in the second quarter valued at about $136,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Weibo in the first quarter valued at about $147,000. Institutional investors own 68.77% of the company's stock.

Weibo Company Profile

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.