58.com Inc. (WUBA) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of 58.com Inc. (NYSE:WUBA) from a sell rating to a hold rating in a report published on Wednesday.

According to Zacks, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China. “

Several other analysts have also recently weighed in on the company. BidaskClub cut 58.com from a buy rating to a hold rating in a research report on Thursday, July 6th. Citigroup Inc. upgraded shares of 58.com from a neutral rating to a buy rating and lifted their price objective for the stock from $62.00 to $68.00 in a research note on Wednesday, August 23rd. HSBC Holdings plc upgraded shares of 58.com from a hold rating to a buy rating and lifted their price objective for the stock from $45.00 to $69.00 in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of 58.com from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, Deutsche Bank AG upgraded shares of 58.com from a hold rating to a buy rating and boosted their target price for the company from $41.00 to $70.00 in a research report on Tuesday, August 22nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. 58.com has an average rating of Hold and a consensus target price of $55.27.

58.com (NYSE:WUBA) last posted its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.42. 58.com had a return on equity of 1.04% and a net margin of 2.14%. The firm had revenue of $382.81 million during the quarter.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.com-unik.info/2017/11/02/58-com-inc-wuba-upgraded-by-zacks-investment-research-to-hold.html.

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in 58.com by 0.7% during the 2nd quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock worth $656,000 after buying an additional 100 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of 58.com by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock valued at $2,315,000 after purchasing an additional 188 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of 58.com by 6.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 453 shares during the last quarter. Aviva PLC increased its position in shares of 58.com by 3.4% in the 2nd quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock valued at $675,000 after purchasing an additional 500 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of 58.com by 11.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,950 shares of the information services provider’s stock valued at $565,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 61.22% of the company’s stock.

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.

Analyst Recommendations for 58.com (NYSE:WUBA)

What are top analysts saying about 58.com Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for 58.com Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit