58.com Inc. (NYSE:WUBA) was upgraded by investment analysts at TheStreet from a “d+” rating to a “c” rating in a research note issued on Thursday, May 11th.
WUBA has been the subject of a number of other reports. Zacks Investment Research cut shares of 58.com from a “hold” rating to a “sell” rating in a research report on Tuesday, January 24th. Benchmark Co. started coverage on shares of 58.com in a research report on Tuesday, April 18th. They issued a “hold” rating for the company. Haitong Bank cut shares of 58.com from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $31.00 to $30.00 in a research report on Tuesday, March 14th. Sanford C. Bernstein started coverage on shares of 58.com in a research report on Wednesday, January 11th. They issued an “underperform” rating for the company. Finally, T.H. Capital started coverage on shares of 58.com in a research report on Wednesday, May 10th. They issued a “buy” rating and a $48.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $46.91.
58.com (NYSE WUBA) opened at 41.02 on Thursday. The stock’s market capitalization is $5.96 billion. 58.com has a 12-month low of $27.58 and a 12-month high of $55.28. The company has a 50-day moving average price of $42.62 and a 200-day moving average price of $35.61. 58.com also was the recipient of unusually large options trading activity on Thursday. Investors acquired 44,068 put options on the company. This is an increase of 984% compared to the typical volume of 4,066 put options.
58.com (NYSE:WUBA) last announced its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.27. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. The firm had revenue of $288.19 million during the quarter. On average, equities research analysts forecast that 58.com will post $0.84 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Hillhouse Capital Management Ltd. bought a new position in shares of 58.com during the third quarter valued at approximately $264,534,000. BlackRock Inc. raised its stake in 58.com by 5,138.7% in the first quarter. BlackRock Inc. now owns 4,007,567 shares of the information services provider’s stock valued at $141,828,000 after buying an additional 3,931,068 shares during the period. SAIF Advisors Ltd acquired a new stake in 58.com during the fourth quarter valued at $106,648,000. Platinum Investment Management Ltd. raised its stake in 58.com by 1,717.9% in the third quarter. Platinum Investment Management Ltd. now owns 3,639,402 shares of the information services provider’s stock valued at $173,453,000 after buying an additional 3,439,202 shares during the period. Finally, General Atlantic LLC acquired a new stake in 58.com during the fourth quarter valued at $87,500,000. 64.78% of the stock is currently owned by institutional investors and hedge funds.
58.com Company Profile
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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