Weibo Corporation (WB) : Traders are bullish on Weibo Corporation (WB) as it has outperformed the S&P 500 by a wide margin of 32.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 19.04%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 19.1% in the last 1 week, and is up 33.51% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 22.94% and the 50-Day Moving Average is 37.75%. Weibo Corporation (NASDAQ:WB): stock turned positive on Friday. Though the stock opened at $42.68, the bulls momentum made the stock top out at $42.9 level for the day. The stock recorded a low of $41.89 and closed the trading day at $42.71, in the green by 0.07%. The total traded volume for the day was 1,160,149. The stock had closed at $42.68 in the previous days trading.
Institutional Investors own 12.44% of Weibo Corporation shares. Also, Goldman Sachs maintains their rating on the shares of Weibo Corporation (NASDAQ:WB). The current rating of the shares is Neutral. Equity Analysts at the Firm raises the price target to $40 per share from $25.4 per share. The rating by the firm was issued on August 11, 2016.
Weibo Corporation is a social media platform for people to create, distribute and discover Chinese-language content. The Company provides ways for people and organizations to publicly express themselves in real time, interact with others on a global platform and stay connected with the world. It operates in two segments: advertising and marketing services and other services. It offers self-expression products that enable its users to express themselves on its platform; social products to promote social interaction between users on its platform; discovery products to help users discover content on its platform, and notifications to notify users on Weibo account activities through short message service (SMS) or push notification on their device. It offers advertising and marketing solutions to enable its customers to promote their brands and conduct marketing activities. It offers its platform partners with tools and application programming interfaces (APIs).