Weibo Corp ADR [NASDAQ: WB] loss -1.96% or -0.19 points to close at $9.51 with a heavy trading volume of 4929145 shares. The company report on March 14, 2024 at 5:00 AM that Weibo Announces Fourth Quarter and Fiscal Year 2023 Unaudited Financial Results and Dividend.
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, 2023.
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“In 2023, we further improved our product’s competitiveness and operating efficiency,” said Gaofei Wang, CEO of Weibo. “Our user community expanded this year, as we have reinforced our content ecosystem and enhanced core competitiveness of our products. On monetization front, our advertising business exhibited solid performance this quarter and gradually recovered throughout the year. With our continued focus on operating efficiency and financial discipline, we achieved decent profitability and solid growth of operating cash flow in 2023. As we are committed to driving shareholder value, we are pleased to announce that our board of directors has approved a special cash dividend of US$200 million to our shareholders.”.
The daily chart for WB points out that the company has recorded -20.82% loss over the past six months.
If we look at the average trading volume of 2.20M shares, WB reached to a volume of 4929145 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 Corp ADR [WB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WB shares is $12.39 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 2.60. 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.
BofA Securities have made an estimate for Weibo Corp ADR shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 11, 2024. The new note on the price target was released on August 25, 2023, representing the official price target for Weibo Corp ADR stock. Previously, the target price had yet another drop from $33 to $15.50, while UBS kept a Neutral rating on WB stock.
The Average True Range (ATR) for Weibo Corp ADR is set at 0.49, with the Price to Sales ratio for WB stock in the period of the last 12 months amounting to 0.79. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 22.19.
Trading performance analysis for WB stock
Weibo Corp ADR [WB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.67. With this latest performance, WB shares gained by 8.44% in over the last four-week period, additionally sinking by -20.82% over the last 6 months – not to mention a drop of -39.06% 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 56.61, with the RSI for the last a single of trading hit 59.60, and the three-weeks RSI is set at 53.87 for Weibo Corp ADR [WB]. The present Moving Average for the last 50 days of trading for this stock 9.01, while it was recorded at 9.43 for the last single week of trading, and 11.71 for the last 200 days.
Weibo Corp ADR [WB]: A deeper dive into fundamental analysis
Weibo Corp ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.38 and a Current Ratio set at 2.38.
Weibo Corp ADR [WB]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Weibo Corp ADR posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.20%. 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 Corp ADR go to 2.29%.
An analysis of Institutional ownership at Weibo Corp ADR [WB]
The top three institutional holders of WB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WB stock with ownership which is approximately 5.8325%.
