Weibo (NASDAQ:WB) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Weibo Corporation (NASDAQ:WB)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.74 and traded as high as $8.04. Weibo shares last traded at $8.00, with a volume of 1,016,584 shares traded.

Analyst Ratings Changes

WB has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $9.80 target price on shares of Weibo in a research report on Thursday, May 28th. Weiss Ratings downgraded Weibo from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Finally, Zacks Research lowered Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Weibo presently has an average rating of “Hold” and an average price target of $11.90.

Weibo Stock Down 1.9%

The company has a debt-to-equity ratio of 0.48, a current ratio of 3.02 and a quick ratio of 3.02. The business’s fifty day moving average price is $7.73 and its two-hundred day moving average price is $8.95. The stock has a market capitalization of $1.93 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 4.81 and a beta of 0.21.

Weibo (NASDAQ:WB) last issued its earnings results on Thursday, May 28th. The information services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $421.33 million during the quarter, compared to analysts’ expectations of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.45 EPS. On average, equities research analysts forecast that Weibo Corporation will post 1.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Weibo

A number of large investors have recently bought and sold shares of the company. Saba Capital Management L.P. increased its holdings in 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 buying an additional 422,294 shares during the period. FIL Ltd purchased a new stake in shares of Weibo in the 4th quarter valued at $16,693,000. UBS Group AG increased its stake in shares of Weibo by 15.9% in the fourth quarter. UBS Group AG now owns 1,596,371 shares of the information services provider’s stock worth $16,315,000 after acquiring an additional 218,666 shares during the period. Wellington Management Group LLP raised its holdings in shares of Weibo by 26.0% during the third quarter. Wellington Management Group LLP now owns 1,155,576 shares of the information services provider’s stock worth $14,329,000 after purchasing an additional 238,120 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Weibo by 497.1% during the second quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock worth $6,865,000 after purchasing an additional 599,700 shares during the last quarter. Hedge funds and other 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.