Weibo (NASDAQ:WB) Shares Gap Up – What’s Next?

Weibo Co. (NASDAQ:WB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $10.67, but opened at $10.93. Weibo shares last traded at $10.89, with a volume of 264,231 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Weibo from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Benchmark reaffirmed a “hold” rating on shares of Weibo in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.28.

Weibo Stock Performance

The stock has a market capitalization of $2.65 billion, a PE ratio of 7.48 and a beta of 0.27. The business’s 50 day moving average is $10.06 and its 200 day moving average is $9.37. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On Weibo

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Weibo by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 2,811,872 shares of the information services provider’s stock valued at $26,853,000 after acquiring an additional 52,598 shares during the last quarter. Saba Capital Management L.P. lifted its holdings in Weibo by 5.9% during the 4th quarter. Saba Capital Management L.P. now owns 2,359,357 shares of the information services provider’s stock valued at $22,532,000 after buying an additional 131,155 shares in the last quarter. Causeway Capital Management LLC boosted its position in Weibo by 14.8% in the 4th quarter. Causeway Capital Management LLC now owns 2,259,267 shares of the information services provider’s stock valued at $21,576,000 after buying an additional 292,086 shares during the period. RPD Fund Management LLC bought a new position in Weibo in the 4th quarter worth about $19,115,000. Finally, Invesco Ltd. grew its stake in Weibo by 34.0% in the 4th quarter. Invesco Ltd. now owns 1,719,174 shares of the information services provider’s stock worth $16,418,000 after acquiring an additional 436,215 shares in the last quarter. 68.77% of the stock is currently owned by hedge funds and other institutional investors.

Weibo Company Profile

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.