Weibo (WB) Hits New 52-Week Low at $40.40
Weibo Corp (NASDAQ:WB) shares hit a new 52-week low on Wednesday . The stock traded as low as $40.40 and last traded at $40.44, with a volume of 24039 shares traded. The stock had previously closed at $42.89.
Several research analysts have weighed in on WB shares. OTR Global lowered shares of Weibo to a “positive” rating in a research note on Tuesday, February 19th. Citigroup lowered shares of Weibo from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a “buy” rating and set a $72.00 target price on shares of Weibo in a research note on Thursday, February 14th. BidaskClub lowered shares of Weibo from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Finally, Barclays reissued a “buy” rating and issued a $75.00 price objective on shares of Weibo in a research note on Monday, March 11th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.06.
The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.44 and a current ratio of 3.44. The company has a market cap of $9.16 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.76 and a beta of 2.33.
Several institutional investors have recently made changes to their positions in WB. Genesis Asset Managers LLP increased its holdings in shares of Weibo by 92.7% in the 1st quarter. Genesis Asset Managers LLP now owns 3,436,337 shares of the information services provider’s stock valued at $112,540,000 after acquiring an additional 1,652,676 shares during the period. Platinum Investment Management Ltd. increased its holdings in shares of Weibo by 118.0% in the 1st quarter. Platinum Investment Management Ltd. now owns 2,768,481 shares of the information services provider’s stock valued at $171,618,000 after acquiring an additional 1,498,519 shares during the period. DSM Capital Partners LLC increased its holdings in shares of Weibo by 1,996.4% in the 4th quarter. DSM Capital Partners LLC now owns 1,335,749 shares of the information services provider’s stock valued at $78,048,000 after acquiring an additional 1,272,034 shares during the period. Norges Bank acquired a new position in shares of Weibo in the 4th quarter valued at $36,324,000. Finally, TB Alternative Assets Ltd. acquired a new position in shares of Weibo in the 1st quarter valued at $35,148,000. 26.19% of the stock is currently owned by institutional investors and hedge funds.
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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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