A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research raised shares of 58.com from a sell rating to a hold rating in a report on Saturday, October 1st. Brean Capital reissued a buy rating on shares of 58.com in a report on Wednesday, August 31st. Finally, Macquarie assumed coverage on shares of 58.com in a report on Friday, July 8th. They set an outperform rating and a $71.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. 58.com presently has a consensus rating of Hold and a consensus target price of $60.30.
Shares of 58.com (NYSE:WUBA) opened at 47.87 on Wednesday. The firm’s market capitalization is $6.90 billion. The firm has a 50-day moving average of $47.47 and a 200 day moving average of $50.42. 58.com has a 52 week low of $42.57 and a 52 week high of $70.27.
58.com (NYSE:WUBA) last posted its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.26. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. The firm had revenue of $297.80 million for the quarter, compared to analyst estimates of $303.42 million. On average, equities analysts predict that 58.com will post ($0.42) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio bought a new position in shares of 58.com during the second quarter valued at about $123,000. Howard Hughes Medical Institute raised its position in shares of 58.com by 16.3% in the first quarter. Howard Hughes Medical Institute now owns 2,592 shares of the company’s stock valued at $144,000 after buying an additional 364 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of 58.com by 450.0% in the second quarter. Macquarie Group Ltd. now owns 3,300 shares of the company’s stock valued at $151,000 after buying an additional 2,700 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of 58.com during the second quarter valued at about $207,000. Finally, Panagora Asset Management Inc. raised its position in shares of 58.com by 12.9% in the second quarter. Panagora Asset Management Inc. now owns 4,777 shares of the company’s stock valued at $219,000 after buying an additional 544 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors and hedge funds.
58.com Company Profile
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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