Weibo (NASDAQ:WB) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Weibo Corporation (NASDAQ:WB)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.74 and traded as high as $8.04. Weibo shares last traded at $8.00, with a volume of 1,016,584 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Weiss Ratings lowered shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 target price on shares of Weibo in a report on Thursday, May 28th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Weibo currently has a consensus rating of “Hold” and an average price target of $11.90.

Weibo Price Performance

The company has a market cap of $1.96 billion, a P/E ratio of 5.59, a P/E/G ratio of 4.66 and a beta of 0.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02. The firm’s fifty day moving average is $7.74 and its two-hundred day moving average is $8.97.

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

Institutional Trading of Weibo

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Weibo by 337.5% during the first quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock valued at $34,000 after buying an additional 2,990 shares during the last quarter. WealthCollab LLC boosted its position in shares of Weibo by 50.1% during the fourth quarter. WealthCollab LLC now owns 5,123 shares of the information services provider’s stock worth $52,000 after acquiring an additional 1,709 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Weibo during the second quarter valued at $61,000. FourThought Financial Partners LLC purchased a new position in Weibo during the fourth quarter valued at $110,000. Finally, AQR Capital Management LLC bought a new stake in Weibo in the 1st quarter valued at $117,000. Institutional investors own 68.77% of the company’s stock.

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.