Weibo (NASDAQ:WB) Shares Gap Up – Time to Buy?

Weibo Co. (NASDAQ:WB)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.89, but opened at $11.60. Weibo shares last traded at $10.80, with a volume of 1,345,459 shares traded.

Analysts Set New Price Targets

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

Weibo Trading Up 1.1 %

The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 7.56 and a beta of 0.26. The firm has a 50-day moving average price of $9.84 and a 200-day moving average price of $9.04. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Weibo

Hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Weibo by 60.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 282,199 shares of the information services provider’s stock worth $2,845,000 after acquiring an additional 105,780 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Weibo by 347.3% in the 3rd quarter. Citigroup Inc. now owns 602,853 shares of the information services provider’s stock worth $6,077,000 after acquiring an additional 468,072 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Weibo by 78.1% in the 3rd quarter. Geode Capital Management LLC now owns 223,447 shares of the information services provider’s stock worth $2,252,000 after acquiring an additional 98,017 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Weibo in the fourth quarter worth $229,000. Finally, Polunin Capital Partners Ltd acquired a new stake in shares of Weibo in the third quarter worth $5,064,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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.