Weibo Co. (NASDAQ:WB – Get Rating) was the target of unusually large options trading activity on Friday. Stock traders bought 4,538 call options on the company. This is an increase of approximately 367% compared to the typical volume of 972 call options.
Weibo Stock Down 0.1 %
Shares of NASDAQ WB opened at $18.96 on Friday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.43. Weibo has a 12 month low of $17.73 and a 12 month high of $57.28. The firm has a market capitalization of $4.49 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.65. The firm has a fifty day simple moving average of $21.52 and a two-hundred day simple moving average of $24.39.
Weibo (NASDAQ:WB – Get Rating) last issued its quarterly earnings data on Wednesday, June 1st. The information services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. Weibo had a net margin of 13.62% and a return on equity of 14.51%. The business had revenue of $484.60 million during the quarter, compared to analyst estimates of $473.58 million. During the same period in the prior year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Weibo will post 2.12 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in WB. Pinebridge Investments L.P. increased its stake in shares of Weibo by 404.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 3,024 shares of the information services provider’s stock worth $70,000 after acquiring an additional 2,424 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Weibo in the 2nd quarter worth about $204,000. OLD Mission Capital LLC bought a new position in shares of Weibo in the 2nd quarter worth about $964,000. Aviva PLC increased its stake in shares of Weibo by 14.2% in the 2nd quarter. Aviva PLC now owns 33,859 shares of the information services provider’s stock worth $783,000 after acquiring an additional 4,200 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Weibo by 14.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,653 shares of the information services provider’s stock worth $316,000 after acquiring an additional 1,754 shares in the last quarter. 71.37% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
WB has been the subject of a number of research reports. Benchmark cut their price objective on shares of Weibo from $56.00 to $39.00 in a research note on Wednesday, June 1st. CLSA cut their price objective on shares of Weibo from $45.00 to $42.70 and set a “buy” rating for the company in a research note on Wednesday, May 18th. The Goldman Sachs Group initiated coverage on shares of Weibo in a research note on Sunday, April 10th. They issued a “hold” rating and a $37.50 price objective for the company. HSBC cut their price objective on shares of Weibo from $31.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, June 2nd. Finally, StockNews.com cut shares of Weibo from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Weibo currently has a consensus rating of “Moderate Buy” and an average target price of $39.33.
Weibo Company Profile
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People’s Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform.
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