Weibo (WB) Shares Gap Up to $74.90
Weibo Corp (NASDAQ:WB) gapped up prior to trading on Monday . The stock had previously closed at $72.95, but opened at $74.90. Weibo shares last traded at $76.76, with a volume of 2709614 shares changing hands.
A number of equities research analysts have recently commented on WB shares. BidaskClub downgraded Weibo from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 26th. ValuEngine raised Weibo from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 7th. Zacks Investment Research downgraded Weibo from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Finally, BNP Paribas started coverage on Weibo in a research report on Thursday, June 14th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $133.75.
The stock has a market cap of $17.82 billion, a P/E ratio of 49.56 and a beta of 2.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.97 and a quick ratio of 3.97.
A number of institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors LLC acquired a new position in shares of Weibo during the second quarter worth about $101,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Weibo by 43.8% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the information services provider’s stock worth $204,000 after purchasing an additional 700 shares in the last quarter. Greenleaf Trust acquired a new position in shares of Weibo during the first quarter worth about $232,000. AdvisorNet Financial Inc lifted its stake in shares of Weibo by 2,580.0% during the second quarter. AdvisorNet Financial Inc now owns 2,680 shares of the information services provider’s stock worth $238,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Weibo during the second quarter worth about $240,000. Hedge funds and other institutional investors own 23.78% of the company’s stock.
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 through 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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