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

Weibo Corporation (NASDAQ:WB) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.89 and last traded at $6.91, with a volume of 786216 shares trading hands. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

A number of research firms have commented on WB. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weibo in a report on Friday, July 24th. Citigroup cut Weibo from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $9.30 to $7.80 in a report on Thursday, August 20th. Jefferies Financial Group restated a “buy” rating and issued a $9.80 price target on shares of Weibo in a research report on Thursday, May 28th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a report on Thursday, August 20th. Finally, Bank of America reiterated an “underperform” rating on shares of Weibo in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Weibo presently has a consensus rating of “Reduce” and a consensus target price of $8.80.

Weibo Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.59 and a current ratio of 3.59. The stock’s 50-day moving average is $7.58 and its two-hundred day moving average is $8.31. The stock has a market cap of $1.67 billion, a PE ratio of 5.62, a PEG ratio of 4.35 and a beta of 0.18.

Weibo (NASDAQ:WB) last released its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Weibo had a return on equity of 8.87% and a net margin of 17.78%.The company had revenue of $453.83 million for the quarter, compared to analysts’ expectations of $442.45 million. On average, equities analysts predict that Weibo Corporation will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On Weibo

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Weibo by 337.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 2,990 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Weibo during the second quarter worth about $61,000. Nykredit A S purchased a new stake in Weibo during the second quarter worth about $93,000. FourThought Financial Partners LLC acquired a new stake in shares of Weibo during the fourth quarter worth about $110,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Weibo during the first quarter worth about $117,000. Institutional investors and hedge funds own 68.77% of the company’s stock.

Weibo Company Profile

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.