Weibo (NASDAQ:WB) Shares Pass Below 200 Day Moving Average – What’s Next?

Weibo Corporation (NASDAQ:WB)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.20 and traded as low as $7.25. Weibo shares last traded at $7.44, with a volume of 1,515,232 shares traded.

Analyst Upgrades and Downgrades

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

Weibo Stock Performance

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’s 50 day moving average price is $7.93 and its two-hundred day moving average price is $9.20. The firm has a market capitalization of $1.83 billion, a PE ratio of 5.20, a PEG ratio of 4.37 and a beta of 0.21.

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

Institutional Trading of Weibo

A number of large investors have recently made changes to their positions in WB. EverSource Wealth Advisors LLC raised its position in shares of Weibo by 337.5% in 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 grew its stake in Weibo by 50.1% in the 4th 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 period. Daiwa Securities Group Inc. acquired a new position in Weibo in the 2nd quarter valued at $61,000. FourThought Financial Partners LLC acquired a new position in Weibo in the 4th quarter valued at $110,000. Finally, AQR Capital Management LLC purchased a new position in shares of Weibo during the 1st quarter worth $117,000. Institutional investors and hedge funds 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.