Weibo (NASDAQ:WB) Sets New 1-Year Low – Here’s What Happened

Shares of Weibo Corporation (NASDAQ:WB) hit a new 52-week low during trading on Friday . The company traded as low as $7.68 and last traded at $7.6980, with a volume of 1753180 shares. The stock had previously closed at $7.85.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $9.80 price objective on shares of Weibo in a report on Thursday, May 28th. Weiss Ratings lowered shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Weibo currently has a consensus rating of “Hold” and an average price target of $11.90.

Weibo Price Performance

The business’s fifty day simple moving average is $8.43 and its 200 day simple moving average is $9.53. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of 4.04 and a beta of 0.20. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.02 and a current ratio of 3.02.

Weibo (NASDAQ:WB) last released 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). The company had revenue of $421.33 million during the quarter, compared to the consensus estimate of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.Weibo’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Research analysts predict that Weibo Corporation will post 1.45 EPS for the current fiscal year.

Weibo Cuts Dividend

The business also recently announced an annual dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, April 17th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a dividend yield of 690.0%. Weibo’s payout ratio is presently 41.26%.

Institutional Investors Weigh In On Weibo

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Weibo by 45.9% in the 1st quarter. Bank of America Corp DE now owns 35,307 shares of the information services provider’s stock worth $309,000 after purchasing an additional 11,109 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Weibo by 337.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,876 shares of the information services provider’s stock worth $34,000 after purchasing an additional 2,990 shares during the last quarter. Saba Capital Management L.P. increased its position in shares of Weibo by 21.0% in the 1st quarter. Saba Capital Management L.P. now owns 2,437,357 shares of the information services provider’s stock worth $21,327,000 after purchasing an additional 422,294 shares during the last quarter. Sei Investments Co. increased its position in shares of Weibo by 39.6% in the 1st quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock worth $5,115,000 after purchasing an additional 165,936 shares during the last quarter. Finally, AIA Group Ltd increased its position in shares of Weibo by 229.7% in the 1st quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock worth $906,000 after purchasing an additional 72,159 shares during the last quarter. Institutional investors 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.