Weibo (NASDAQ:WB) Stock Price Up 14.1% on Earnings Beat
Shares of Weibo Corp (NASDAQ:WB) rose 14.1% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $42.90 and last traded at $42.31, approximately 9,912,063 shares changed hands during mid-day trading. An increase of 337% from the average daily volume of 2,266,851 shares. The stock had previously closed at $37.08.
The information services provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. Weibo had a net margin of 35.25% and a return on equity of 37.16%. The company had revenue of $431.80 million during the quarter, compared to analyst estimates of $434.79 million. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year.
WB has been the subject of a number of research reports. ValuEngine raised shares of Weibo from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $51.00 price objective (down from $81.00) on shares of Weibo in a research note on Friday, May 24th. HSBC lowered shares of Weibo from a “hold” rating to a “reduce” rating and set a $45.54 price objective for the company. in a research note on Friday, May 24th. BidaskClub upgraded shares of Weibo from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, TheStreet downgraded shares of Weibo from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $60.46.
The business’s 50 day moving average is $39.71 and its 200-day moving average is $54.04. The firm has a market capitalization of $8.34 billion, a P/E ratio of 16.44 and a beta of 2.21. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.45.
About Weibo (NASDAQ:WB)
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover Chinese-language content. It operates in two segments, Advertising and Marketing Services, and Value-Added Services. The company offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; and discovery products to help users discover content on its platform.
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