Weibo (NASDAQ:WB) Hits New 52-Week Low at $7.58

Weibo Co. (NASDAQ:WB)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.58 and last traded at $7.58, with a volume of 331675 shares changing hands. The stock had previously closed at $7.69.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered Weibo from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $11.00 to $10.00 in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.65.

Weibo Stock Performance

The firm has a market cap of $1.79 billion, a PE ratio of 6.48, a P/E/G ratio of 1.30 and a beta of 0.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a 50-day moving average price of $8.25 and a 200 day moving average price of $8.70.

Weibo (NASDAQ:WB) last announced its quarterly earnings data on Thursday, May 23rd. The information services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $395.50 million during the quarter, compared to the consensus estimate of $396.50 million. Weibo had a return on equity of 10.92% and a net margin of 16.74%. Research analysts forecast that Weibo Co. will post 1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its stake in shares of Weibo by 5.7% in the fourth quarter. New York State Common Retirement Fund now owns 61,627 shares of the information services provider’s stock worth $675,000 after acquiring an additional 3,338 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Weibo by 4.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 134,393 shares of the information services provider’s stock worth $1,222,000 after acquiring an additional 6,000 shares in the last quarter. DGS Capital Management LLC increased its holdings in Weibo by 42.1% in the fourth quarter. DGS Capital Management LLC now owns 23,121 shares of the information services provider’s stock valued at $253,000 after buying an additional 6,850 shares during the last quarter. abrdn plc increased its holdings in Weibo by 59.4% in the fourth quarter. abrdn plc now owns 18,665 shares of the information services provider’s stock valued at $204,000 after buying an additional 6,955 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Weibo by 21.5% in the second quarter. SG Americas Securities LLC now owns 51,661 shares of the information services provider’s stock valued at $397,000 after buying an additional 9,143 shares during the last quarter. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Company Profile

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover 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.