Weibo (NASDAQ:WB) Shares Pass Above Fifty Day Moving Average - Here's What Happened

Key Points

• Weibo Corporation's shares recently crossed above their 50-day moving average, reaching a high of $10.33, and currently trades at $10.21 with a trading volume of 548,416 shares.
• Wall Street analysts have downgraded Weibo from a "buy" to a "hold" rating, with a consensus price target of $9.75.
• Despite a slight revenue increase of 0.4% year-over-year, Weibo reported earnings of $0.45 per share, exceeding analyst estimates of $0.38.

Weibo Corporation (NASDAQ:WB - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.64 and traded as high as $10.33. Weibo shares last traded at $10.21, with a volume of 548,416 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Weibo presently has a consensus rating of "Hold" and a consensus price target of $9.75.

Weibo Price Performance

The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 6.88 and a beta of 0.10. The business's fifty day simple moving average is $9.70 and its 200 day simple moving average is $9.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.72 and a quick ratio of 2.72.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The information services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. The firm had revenue of $396.86 million for the quarter, compared to the consensus estimate of $394.21 million. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. On average, research analysts forecast that Weibo Corporation will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Weibo

A number of institutional investors and hedge funds have recently modified their holdings of WB. Allianz Asset Management GmbH bought a new position in Weibo during the second quarter valued at approximately $198,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Weibo by 85.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,815 shares of the information services provider's stock valued at $179,000 after acquiring an additional 8,694 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in Weibo by 31.7% in the 2nd quarter. Kathmere Capital Management LLC now owns 20,455 shares of the information services provider's stock worth $195,000 after buying an additional 4,928 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Weibo during the 1st quarter valued at about $1,139,000. Finally, AQR Capital Management LLC bought a new stake in shares of Weibo during the 1st quarter valued at about $117,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

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.