Weibo (NASDAQ:WB) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Weibo Corporation (NASDAQ:WB) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.20 and traded as low as $7.25. Weibo shares last traded at $7.44, with a volume of 1,515,232 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WB shares. Jefferies Financial Group restated a “buy” rating and issued a $9.80 target price on shares of Weibo in a report on Thursday, May 28th. Weiss Ratings lowered shares of Weibo from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. Finally, Zacks Research downgraded shares of Weibo from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.90.

Weibo Stock Performance

The firm has a market cap of $1.81 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 4.47 and a beta of 0.21. The business has a 50 day simple moving average of $7.91 and a two-hundred day simple moving average of $9.18. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.48.

Weibo (NASDAQ:WB) last posted its quarterly earnings results on Thursday, May 28th. The information services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $421.33 million during the quarter, compared to the consensus estimate of $416.76 million. Weibo had a return on equity of 9.90% and a net margin of 21.15%.The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Weibo Corporation will post 1.26 earnings per share for the current fiscal year.

Institutional Trading of Weibo

Several institutional investors and hedge funds have recently modified their holdings of WB. AQR Capital Management LLC bought a new position in Weibo in the first quarter worth approximately $117,000. JPMorgan Chase & Co. raised its position in Weibo by 497.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 720,348 shares of the information services provider’s stock valued at $6,865,000 after purchasing an additional 599,700 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Weibo in the 2nd quarter worth $2,502,000. Daiwa Securities Group Inc. purchased a new stake in shares of Weibo in the 2nd quarter worth $61,000. Finally, Raymond James Financial Inc. grew its position in shares of Weibo by 139.5% during the 2nd quarter. Raymond James Financial Inc. now owns 47,852 shares of the information services provider’s stock worth $456,000 after buying an additional 27,868 shares in the last quarter. Institutional investors own 68.77% of the company’s stock.

About Weibo

Weibo Corporation operates one of China’s leading social media and microblogging platforms under the brand name Weibo. Launched in August 2009 by Sina Corporation, Weibo enables users to create, share and engage with short-form posts in real time. The platform supports text, images, videos and live streams, and offers features such as trending topics, hashtag campaigns and public discussion forums to facilitate user interaction and content discovery.

Weibo’s product suite extends beyond basic social networking to include digital content services such as live streaming, online games, value-added messaging and e-commerce integrations.