Weibo (NASDAQ:WB) Posts Quarterly Earnings Results

Weibo (NASDAQ:WB) released its earnings results on Tuesday. The information services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03), Briefing.com reports. The firm had revenue of $442.31 million during the quarter, compared to analysts’ expectations of $447.88 million. Weibo had a return on equity of 12.65% and a net margin of 21.10%.The business’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share.

Weibo Price Performance

Shares of NASDAQ:WB opened at $9.92 on Tuesday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 6.93 and a beta of 0.13. Weibo has a 1 year low of $7.10 and a 1 year high of $12.96. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $11.64 and a 200 day simple moving average of $10.50.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WB. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Weibo in a research note on Wednesday, October 8th. Wall Street Zen downgraded Weibo from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Citigroup increased their price objective on Weibo from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.00.

Institutional Investors Weigh In On Weibo

Hedge funds and other institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in Weibo by 14.6% in the third quarter. CANADA LIFE ASSURANCE Co now owns 18,674 shares of the information services provider’s stock worth $233,000 after buying an additional 2,378 shares during the last quarter. Virtus Advisers LLC grew its position in Weibo by 134.2% in the third quarter. Virtus Advisers LLC now owns 340,931 shares of the information services provider’s stock worth $4,228,000 after acquiring an additional 195,331 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Weibo during the 3rd quarter worth $640,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Weibo by 4.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,428 shares of the information services provider’s stock worth $514,000 after purchasing an additional 1,860 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Weibo by 41.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 16,247 shares of the information services provider’s stock valued at $201,000 after purchasing an additional 4,786 shares in the last quarter. 68.77% of the stock is owned by hedge funds and other institutional investors.

About Weibo

Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, discover, and distribute 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.