Market cap of Weibo Corporation [WB] reaches 4.62B – now what?

Weibo Corporation [NASDAQ: WB] gained 4.51% or 0.83 points to close at $19.22 with a heavy trading volume of 4464244 shares. The company report on March 1, 2023 that Weibo Reports Fourth Quarter and Fiscal Year 2022 Unaudited Financial Results.

Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2022.

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“We navigated through the challenging 2022 with solid operating efficiency,” said Gaofei Wang, CEO of Weibo. “Our community remained healthy and engaged, mainly attributable to the optimization of social product and effective channel investment. On monetization, our advertising business has exhibited recovery trend in the second half of 2022, although macro challenges continuously weighed on the overall advertising demand. We are pleased to see the operating efficiency that we achieved throughout this year, with non-GAAP operating margin reaching 33% for 2022. As we entered into 2023, we will embrace the broad recovery of the advertising business post China’s reopening and drive value for our advertisers through our ecosystem based integrated marketing solution. We will continue to focus on enhancing operating efficiency, aiming to sustain our long-term competitiveness in the market.”.

It opened the trading session at $19.21, the shares rose to $19.45 and dropped to $18.95, the range by which the price of stock traded the whole day. The daily chart for WB points out that the company has recorded 14.07% gains over the past six months. However, it is still -91.82% lower than its most recent low trading price.

If we look at the average trading volume of 1.41M shares, WB reached to a volume of 4464244 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Weibo Corporation [WB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WB shares is $25.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WB stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Weibo Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 30, 2023. The new note on the price target was released on January 09, 2023, representing the official price target for Weibo Corporation stock. Previously, the target price had yet another raise to $37.50, while Goldman analysts kept a Neutral rating on WB stock. On March 11, 2022, analysts decreased their price target for WB shares from 64 to 27.80.

The Average True Range (ATR) for Weibo Corporation is set at 0.94, with the Price to Sales ratio for WB stock in the period of the last 12 months amounting to 2.52. The Price to Book ratio for the last quarter was 1.35, with the Price to Cash per share for the same quarter was set at 13.19.

Trading performance analysis for WB stock

Weibo Corporation [WB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.59. With this latest performance, WB shares dropped by -6.61% in over the last four-week period, additionally plugging by 14.07% over the last 6 months – not to mention a drop of -24.27% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WB stock in for the last two-week period is set at 55.26, with the RSI for the last a single of trading hit 64.91, and the three-weeks RSI is set at 51.41 for Weibo Corporation [WB]. The present Moving Average for the last 50 days of trading for this stock 20.53, while it was recorded at 18.52 for the last single week of trading, and 18.55 for the last 200 days.

Weibo Corporation [WB]: A deeper dive into fundamental analysis

Weibo Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.70.

Weibo Corporation [WB]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Weibo Corporation go to -7.85%.

An analysis of insider ownership at Weibo Corporation [WB]

There are presently around $1,233 million, or 39.50% of WB stock, in the hands of institutional investors. The top three institutional holders of WB stocks are: ALIBABA GROUP HOLDING LTD with ownership of 9,000,000, which is approximately 0% of the company’s market cap and around 6.06% of the total institutional ownership; ARGA INVESTMENT MANAGEMENT, LP, holding 5,789,371 shares of the stock with an approximate value of $106.47 million in WB stocks shares; and ALLSPRING GLOBAL INVESTMENTS HOLDINGS, LLC, currently with $95.77 million in WB stock with ownership of nearly 2.702% of the company’s market capitalization.

Positions in Weibo Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 93 institutional holders increased their position in Weibo Corporation [NASDAQ:WB] by around 13,320,462 shares. Additionally, 63 investors decreased positions by around 11,431,959 shares, while 27 investors held positions by with 42,293,310 shares. The mentioned changes placed institutional holdings at 67,045,731 shares, according to the latest SEC report filing. WB stock had 30 new institutional investments in for a total of 3,023,001 shares, while 21 institutional investors sold positions of 5,512,952 shares during the same period.


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