Weibo (NASDAQ:WB) Hits New 12-Month Low – Here’s Why

Weibo Corporation (NASDAQ:WB)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $7.44 and last traded at $7.50, with a volume of 1579442 shares traded. The stock had previously closed at $7.67.

Analyst Upgrades and Downgrades

WB has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $9.80 price objective on shares of Weibo in a research note on Thursday, May 28th. Weiss Ratings cut shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Finally, Zacks Research downgraded shares of Weibo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Weibo has a consensus rating of “Hold” and a consensus price target of $11.90.

Weibo Trading Down 2.2%

The company has a 50 day simple moving average of $8.29 and a 200 day simple moving average of $9.42. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.84 billion, a PE ratio of 5.24, a P/E/G ratio of 4.61 and a beta of 0.20.

Weibo (NASDAQ:WB) last announced its earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Weibo had a net margin of 21.15% and a return on equity of 9.90%. The company had revenue of $421.33 million during the quarter, compared to analysts’ expectations of $416.76 million. During the same quarter last year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Analysts predict that Weibo Corporation will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WB. EverSource Wealth Advisors LLC boosted its holdings in Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 2,990 shares in the last quarter. WealthCollab LLC lifted its holdings in shares of Weibo by 50.1% in the 4th quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock valued at $52,000 after buying an additional 1,709 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Weibo in the second quarter valued at approximately $61,000. FourThought Financial Partners LLC acquired a new position in Weibo during the fourth quarter worth $110,000. Finally, AQR Capital Management LLC acquired a new position in Weibo during the first quarter worth $117,000. 68.77% of the stock is owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.