Weibo (NASDAQ:WB) Issues Quarterly Earnings Results

Weibo (NASDAQ:WB) posted its earnings results on Monday. The information services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.09, MarketWatch Earnings reports. Weibo had a net margin of 23.44% and a return on equity of 18.14%. The firm had revenue of $387.40 million during the quarter, compared to the consensus estimate of $380.63 million. During the same period last year, the firm posted $0.68 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Weibo updated its Q3 2020
Pre-Market guidance to EPS.

NASDAQ WB opened at $33.65 on Wednesday. The company’s fifty day simple moving average is $35.11 and its 200-day simple moving average is $34.68. Weibo has a 52 week low of $28.93 and a 52 week high of $55.52. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.57 billion, a P/E ratio of 19.23, a PEG ratio of 2.77 and a beta of 1.66.

Several equities analysts have weighed in on WB shares. BidaskClub upgraded shares of Weibo from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Zacks Investment Research cut shares of Weibo from a “hold” rating to a “sell” rating in a research report on Friday, September 11th. ValuEngine raised shares of Weibo from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Finally, Bank of America began coverage on shares of Weibo in a research report on Friday, June 26th. They set a “buy” rating and a $42.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.75.

About Weibo

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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Earnings History for Weibo (NASDAQ:WB)

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