Shares of 58.com Inc. (NYSE:WUBA) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $62.07.
Several research analysts have recently commented on WUBA shares. Macquarie started coverage on 58.com in a report on Friday, July 8th. They set an “outperform” rating and a $71.00 price objective for the company. Zacks Investment Research raised 58.com from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Thursday, July 14th. Brean Capital reissued a “buy” rating on shares of 58.com in a report on Tuesday, July 19th. Finally, Deutsche Bank AG started coverage on 58.com in a report on Wednesday, October 5th. They set a “buy” rating and a $65.00 price objective for the company.
58.com (NYSE:WUBA) opened at 45.11 on Tuesday. The company’s market cap is $6.50 billion. The company has a 50-day moving average of $47.42 and a 200-day moving average of $50.17. 58.com has a one year low of $42.57 and a one year high of $70.27.
58.com (NYSE:WUBA) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.26. 58.com had a negative return on equity of 6.59% and a negative net margin of 27.86%. The company earned $297.80 million during the quarter, compared to analyst estimates of $303.42 million. Equities research analysts expect that 58.com will post ($0.42) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in 58.com by 347.2% in the first quarter. Aperio Group LLC now owns 26,465 shares of the company’s stock worth $1,473,000 after buying an additional 20,547 shares during the period. Pacad Investment Ltd. bought a new stake in 58.com during the first quarter worth $479,000. BlackRock Inc. raised its stake in 58.com by 4.1% in the first quarter. BlackRock Inc. now owns 240,969 shares of the company’s stock worth $13,410,000 after buying an additional 9,405 shares during the period. BlackRock Fund Advisors raised its stake in 58.com by 7.2% in the first quarter. BlackRock Fund Advisors now owns 494,489 shares of the company’s stock worth $27,518,000 after buying an additional 33,215 shares during the period. Finally, BlackRock Japan Co. Ltd raised its stake in 58.com by 5.5% in the first quarter. BlackRock Japan Co. Ltd now owns 44,485 shares of the company’s stock worth $2,476,000 after buying an additional 2,322 shares during the period. 48.48% of the stock is owned by hedge funds and other institutional investors.
58.com Inc (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect, share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services.
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