Weibo (NASDAQ:WB) Stock Price Crosses Above 50 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 passed 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Weibo from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $9.75.

Weibo Stock Performance

The stock's 50 day moving average price is $9.69 and its 200 day moving average price is $9.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market capitalization of $2.30 billion, a P/E ratio of 6.88 and a beta of 0.11.

Weibo (NASDAQ:WB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The information services provider reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.07. The company had revenue of $396.86 million for the quarter, compared to analyst estimates of $394.21 million. Weibo had a net margin of 20.41% and a return on equity of 12.29%. The company's quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts expect that Weibo Corporation will post 1.62 EPS for the current year.

Institutional Trading of Weibo

Several institutional investors and hedge funds have recently made changes to their positions in the company. SIH Partners LLLP increased its stake in shares of Weibo by 8.0% in the fourth quarter. SIH Partners LLLP now owns 20,200 shares of the information services provider's stock worth $193,000 after purchasing an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Weibo by 22.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,653 shares of the information services provider's stock worth $110,000 after purchasing an additional 2,135 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Weibo by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 29,986 shares of the information services provider's stock worth $286,000 after purchasing an additional 2,522 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Weibo by 26.5% during the fourth quarter. Ameriprise Financial Inc. now owns 15,780 shares of the information services provider's stock valued at $151,000 after acquiring an additional 3,307 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its stake in Weibo by 31.7% during the second quarter. Kathmere Capital Management LLC now owns 20,455 shares of the information services provider's stock valued at $195,000 after acquiring an additional 4,928 shares in the last quarter. Hedge funds and other institutional investors 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.