Weibo (NASDAQ:WB) Announces Earnings Results

Weibo (NASDAQ:WBGet Rating) posted its quarterly earnings data on Wednesday. The information services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.14, MarketWatch Earnings reports. Weibo had a return on equity of 13.38% and a net margin of 18.98%. The business had revenue of $484.60 million for the quarter, compared to analysts’ expectations of $473.58 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis.

Shares of WB stock traded up $0.47 during trading hours on Wednesday, hitting $22.47. The company had a trading volume of 16,878 shares, compared to its average volume of 879,187. Weibo has a 12 month low of $18.62 and a 12 month high of $64.70. The firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 0.74 and a beta of 0.89. The firm’s fifty day moving average is $22.75 and its 200 day moving average is $28.68. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.22 and a current ratio of 2.22.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WB. Advisor Group Holdings Inc. lifted its holdings in Weibo by 88.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,383 shares of the information services provider’s stock worth $35,000 after buying an additional 651 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in shares of Weibo in the 4th quarter valued at $40,000. US Bancorp DE increased its position in shares of Weibo by 124.7% in the 1st quarter. US Bancorp DE now owns 5,512 shares of the information services provider’s stock valued at $135,000 after buying an additional 3,059 shares in the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of Weibo in the 1st quarter valued at $227,000. Finally, Envestnet Asset Management Inc. increased its holdings in Weibo by 18.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 11,899 shares of the information services provider’s stock worth $292,000 after purchasing an additional 1,861 shares in the last quarter. Institutional investors and hedge funds own 71.37% of the company’s stock.

Several research firms have recently issued reports on WB. UBS Group cut Weibo from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $64.00 to $27.80 in a report on Friday, March 11th. StockNews.com lowered Weibo from a “buy” rating to a “hold” rating in a research report on Thursday, May 19th. The Goldman Sachs Group initiated coverage on Weibo in a research report on Sunday, April 10th. They set a “hold” rating and a $37.50 target price on the stock. 86 Research upgraded Weibo from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Friday, March 4th. Finally, Benchmark decreased their price target on Weibo from $70.00 to $56.00 and set a “buy” rating for the company in a research note on Friday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Weibo presently has a consensus rating of “Hold” and an average target price of $44.20.

About Weibo (Get Rating)

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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Earnings History for Weibo (NASDAQ:WB)

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