Weibo Corp ADR [NASDAQ: WB] price surged by 3.64 percent to reach at $0.32. The company report on April 8, 2024 at 5:45 AM that Weibo to Hold Annual General Meeting on May 22, 2024.
Weibo Corporation (the “Weibo” or “Company”) (Nasdaq: WB and HKEX: 9898), China’s leading social media platform, today published a notice to announce that it will hold an annual general meeting (the “AGM”) of shareholders (the “Notice of AGM”) at 5809-5810, Two International Finance Centre, 8th Finance Street, Central, Hong Kong on Wednesday, May 22, 2024 at 2:00 p.m.(Hong Kong time), for the purposes of considering and, if thought fit, passing the Proposed Resolutions set forth in the Notice of AGM. The Notice of AGM and proxy card for the AGM are available on the Company’s website at ir.weibo.com. The board of directors of Weibo fully supports the proposed resolutions listed in the Notice of AGM and recommends that shareholders and holders of ADSs vote in favor of the resolutions set out in the Notice of AGM.
Holders of record of ordinary shares of the Company at the close of business on April 23, 2024, Hong Kong time, are entitled to attend and vote at the AGM and any adjourned meeting thereof. Holders of record of American Depositary Shares (the “ADSs”) as of the close of business on April 23, 2024, New York time, who wish to exercise their voting rights for the underlying Class A Ordinary Shares must give voting instructions to JPMorgan Chase Bank, N.A., the depositary of the ADSs.
The one-year WB stock forecast points to a potential upside of 25.23. The average equity rating for WB stock is currently 2.04, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $12.17 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 2.04. 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.
Goldman have made an estimate for Weibo Corp ADR shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 28, 2024. The new note on the price target was released on March 19, 2024, representing the official price target for Weibo Corp ADR stock. Previously, the target price had yet another drop from $19.50 to $10, while BofA Securities kept a Underperform rating on WB stock.
The Average True Range (ATR) for Weibo Corp ADR is set at 0.43, with the Price to Sales ratio for WB stock in the period of the last 12 months amounting to 0.75. The Price to Book ratio for the last quarter was 0.66, with the Price to Cash per share for the same quarter was set at 22.19.
WB Stock Performance Analysis:
Weibo Corp ADR [WB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.60. With this latest performance, WB shares gained by 1.00% in over the last four-week period, additionally sinking by -26.61% over the last 6 months – not to mention a drop of -46.73% 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 49.20, with the RSI for the last a single of trading hit 49.05, and the three-weeks RSI is set at 49.12 for Weibo Corp ADR [WB]. The present Moving Average for the last 50 days of trading for this stock 9.05, while it was recorded at 9.03 for the last single week of trading, and 11.25 for the last 200 days.
Insight into Weibo Corp ADR Fundamentals:
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.
WB Stock EPS
With the latest financial reports released by the company, Weibo Corp ADR posted 0.47/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.30%. 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 4.08%.
Weibo Corp ADR [WB] Institutonal Ownership Details
The top three institutional holders of WB stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in WB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in WB stock with ownership which is approximately 5.8386%.
