Weibo (NASDAQ:WB) Sets New 12-Month High - Should You Buy?

Key Points

• Weibo's share price reached a new 52-week high of $12.96 during trading, closing at $12.78 with a notable trading volume of 185,492 shares.
• Analysts have upgraded Weibo to a "buy" rating, with Citigroup raising the price target from $12.00 to $14.00, leading to an average price target of $14.00 for the stock.
• The company reported a quarterly EPS of $0.54, significantly surpassing expectations, alongside a 1.6% year-over-year revenue increase to $444.80 million.

Weibo Corporation (NASDAQ:WB - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.96 and last traded at $12.78, with a volume of 185492 shares traded. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Weibo from a "hold" rating to a "buy" rating in a research report on Friday, September 26th. Citigroup lifted their price objective on shares of Weibo from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.00.

Weibo Trading Up 0.7%

The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $3.06 billion, a PE ratio of 8.83 and a beta of 0.09. The business's 50-day moving average is $11.31 and its two-hundred day moving average is $9.88.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The information services provider reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.27. The company had revenue of $444.80 million for 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%. Weibo's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. On average, analysts anticipate that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Marex Group plc acquired a new position in shares of Weibo during the second quarter worth about $169,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of Weibo during the second quarter worth about $155,000. Balyasny Asset Management L.P. increased its stake in shares of Weibo by 115.9% during the second quarter. Balyasny Asset Management L.P. now owns 158,391 shares of the information services provider's stock worth $1,509,000 after acquiring an additional 85,024 shares during the period. Raymond James Financial Inc. increased its stake in shares of Weibo by 139.5% during the second quarter. Raymond James Financial Inc. now owns 47,852 shares of the information services provider's stock worth $456,000 after acquiring an additional 27,868 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Weibo during the second quarter worth about $61,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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