Weibo (NASDAQ:WB) Shares Gap Up to $16.48

Weibo Co. (NASDAQ:WB – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $16.48, but opened at $16.98. Weibo shares last traded at $16.50, with a volume of 88,176 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on WB. The Goldman Sachs Group raised shares of Weibo from a “neutral” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Sunday, January 8th. JPMorgan Chase & Co. started coverage on shares of Weibo in a research note on Monday, January 30th. They issued a “neutral” rating for the company. Finally, StockNews.com started coverage on shares of Weibo in a research note on Thursday. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Weibo has a consensus rating of “Hold” and a consensus target price of $30.86.

Weibo Stock Down 0.1 %

The company has a market cap of $3.90 billion, a P/E ratio of 45.75, a P/E/G ratio of 0.74 and a beta of 0.52. The company has a quick ratio of 2.33, a current ratio of 3.73 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $20.89 and its 200 day moving average is $17.79.

Hedge Funds Weigh In On Weibo

Several institutional investors and hedge funds have recently bought and sold shares of the company. ARGA Investment Management LP grew its holdings in Weibo by 26.5% in the fourth quarter. ARGA Investment Management LP now owns 5,789,371 shares of the information services provider’s stock worth $110,265,000 after purchasing an additional 1,212,896 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Weibo by 2.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,207,661 shares of the information services provider’s stock worth $99,570,000 after purchasing an additional 137,011 shares during the last quarter. UBS Group AG grew its holdings in Weibo by 149.2% in the first quarter. UBS Group AG now owns 5,059,287 shares of the information services provider’s stock worth $124,002,000 after purchasing an additional 3,029,114 shares during the last quarter. Federated Hermes Inc. grew its holdings in Weibo by 26.6% in the third quarter. Federated Hermes Inc. now owns 3,944,506 shares of the information services provider’s stock worth $67,451,000 after purchasing an additional 828,636 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Weibo by 3.9% in the third quarter. BlackRock Inc. now owns 3,268,963 shares of the information services provider’s stock worth $55,898,000 after purchasing an additional 122,879 shares during the last quarter. 27.46% of the stock is owned by hedge funds and other institutional investors.

About Weibo

(Get Rating)

Weibo Corp. engages in the creation, distribution, and discovery of Chinese-language content. It operates through the Advertising and Marketing Services, and Other Services segments. Its products and services include Self-Expression, such as Feed, Individual page, and Enterprise page; Social Products, such as Follow, Repost, Comment, Favorite, like, Mention, Messenger, and Group Chat; Discovery Products, such as Information Feed, Search, Object Page, Trends, and Discovery Channel; Notifications; Weibo Games; VIP Membership; and Weibo Apps.