Weibo (NASDAQ:WB) Trading Up 5.7% - What's Next?

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 traded up 5.7% on Tuesday . The stock traded as high as $12.26 and last traded at $12.18. 546,010 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,355,784 shares. The stock had previously closed at $11.52.

Analyst Ratings Changes

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

Weibo Price 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 firm has a market cap of $2.97 billion, a PE ratio of 8.57 and a beta of 0.08. The stock has a 50 day simple moving average of $10.67 and a 200-day simple moving average of $9.70.

Weibo (NASDAQ:WB - Get Free Report) last issued its quarterly 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 analyst estimates 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 quarter in the prior year, the business posted $0.48 EPS. Equities analysts anticipate that Weibo Corporation will post 1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marex Group plc bought a new position in shares of Weibo in the 2nd quarter valued at about $169,000. CANADA LIFE ASSURANCE Co bought a new position in shares of Weibo in the 2nd quarter valued at about $155,000. Balyasny Asset Management L.P. lifted its holdings in shares of Weibo by 115.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 158,391 shares of the information services provider's stock valued at $1,509,000 after acquiring an additional 85,024 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Weibo by 139.5% in the 2nd quarter. Raymond James Financial Inc. now owns 47,852 shares of the information services provider's stock valued at $456,000 after acquiring an additional 27,868 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Weibo in the second quarter worth about $61,000. 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.