Weibo (NASDAQ:WB) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Weibo Corporation (NASDAQ:WB) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $6.51 and traded as high as $6.59. Weibo shares last traded at $6.53, with a volume of 643,492 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of Weibo in a research note on Thursday, August 20th. Zacks Research upgraded shares of Weibo from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. The Goldman Sachs Group set a $6.70 price target on shares of Weibo in a research note on Friday, October 23rd. Bank of America reiterated an “underperform” rating on shares of Weibo in a report on Friday, August 21st. Finally, Citigroup lowered shares of Weibo from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $9.30 to $7.80 in a research report on Thursday, August 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $8.10.

Weibo Price Performance

The stock’s 50 day moving average price is $6.51 and its 200-day moving average price is $8.06. The company has a quick ratio of 3.59, a current ratio of 3.59 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.60 billion, a PE ratio of 5.40 and a beta of 0.19.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, August 20th. The information services provider reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $453.83 million for the quarter, compared to the consensus estimate of $442.45 million. Weibo had a net margin of 17.78% and a return on equity of 8.87%. As a group, equities analysts forecast that Weibo Corporation will post 1.02 EPS for the current year.

Institutional Trading of Weibo

Several institutional investors and hedge funds have recently made changes to their positions in WB. Saba Capital Management L.P. increased its holdings in shares of 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 valued at $21,327,000 after acquiring an additional 422,294 shares during the period. Wellington Management Group LLP raised its holdings in Weibo by 41.9% in the second quarter. Wellington Management Group LLP now owns 2,363,373 shares of the information services provider’s stock worth $17,158,000 after purchasing an additional 697,778 shares in the last quarter. Sei Investments Co. raised its holdings in Weibo by 39.6% in the first quarter. Sei Investments Co. now owns 584,557 shares of the information services provider’s stock worth $5,115,000 after purchasing an additional 165,936 shares in the last quarter. Headlands Technologies LLC raised its holdings in Weibo by 150.0% in the second quarter. Headlands Technologies LLC now owns 119,350 shares of the information services provider’s stock worth $866,000 after purchasing an additional 71,607 shares in the last quarter. Finally, AIA Group Ltd lifted its position in shares of Weibo by 229.7% during the first quarter. AIA Group Ltd now owns 103,579 shares of the information services provider’s stock valued at $906,000 after buying an additional 72,159 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

Weibo Company Profile

Weibo Corp. (NASDAQ: WB) operates a social media platform in China centered on the Weibo service, a microblogging and content-sharing network. The platform enables users to create, discover and distribute text, images, video and live content, while allowing public figures, media organizations, businesses and government agencies to engage with audiences and participate in public discussions.

Weibo generates revenue primarily through advertising and marketing services, including promoted content and other brand- and performance-based advertising solutions.