Weibo (NASDAQ:WB) Trading Up 5.7% - Time to Buy?

Key Points

• Weibo's share price increased by 5.7% during mid-day trading, reaching a last price of $12.18, despite a significant drop in trading volume.
• Analysts have mixed opinions on Weibo, with Citigroup raising its target price to $14.00 and maintaining a "buy" rating, while Wall Street Zen downgraded it to a "hold" rating.
• The company reported earnings of $0.54 per share for the last quarter, exceeding expectations and showing a 1.6% increase in revenue year-over-year.

Weibo Corporation (NASDAQ:WB - Get Free Report)'s share price was up 5.7% during mid-day trading on Tuesday . The company traded as high as $12.26 and last traded at $12.18. Approximately 546,010 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 1,355,784 shares. The stock had previously closed at $11.52.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WB shares. Citigroup increased their target price on shares of Weibo from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, August 15th. Wall Street Zen cut shares of Weibo from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Weibo Stock Performance

The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average price is $10.46 and its two-hundred day moving average price is $9.65. The firm has a market capitalization of $2.92 billion, a PE ratio of 8.42 and a beta of 0.08.

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 for the quarter, topping analysts' consensus estimates of $0.27 by $0.27. Weibo had a net margin of 21.10% and a return on equity of 12.65%. The business had revenue of $444.80 million during the quarter, compared to analysts' expectations of $438.84 million. During the same period last year, the company posted $0.48 EPS. The company's revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that Weibo Corporation will post 1.62 earnings per share for the current year.

Institutional Trading of Weibo

A number of hedge funds have recently bought and sold shares of WB. RPD Fund Management LLC acquired a new stake in Weibo during the fourth quarter worth approximately $19,115,000. Wellington Management Group LLP boosted its position in Weibo by 1,641.9% during the fourth quarter. Wellington Management Group LLP now owns 1,048,522 shares of the information services provider's stock worth $10,013,000 after acquiring an additional 988,327 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Weibo by 25.1% during the first quarter. Krane Funds Advisors LLC now owns 4,332,687 shares of the information services provider's stock worth $41,031,000 after acquiring an additional 868,643 shares during the last quarter. Woodline Partners LP acquired a new stake in Weibo during the fourth quarter worth approximately $6,853,000. Finally, JPMorgan Chase & Co. boosted its position in Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider's stock worth $6,865,000 after acquiring an additional 599,700 shares during the last quarter. 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.

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