Shares of 58.com Inc (NYSE:WUBA) have been assigned a consensus rating of “Hold” from the ten ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.66.
WUBA has been the subject of several analyst reports. Zacks Investment Research downgraded 58.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 3rd. Jefferies Financial Group initiated coverage on 58.com in a report on Monday, August 5th. They set a “buy” rating and a $66.40 price target for the company. ValuEngine downgraded 58.com from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. BOCOM International downgraded 58.com from a “buy” rating to a “neutral” rating in a report on Friday, August 23rd. Finally, Credit Suisse Group downgraded 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 price target for the company. in a report on Tuesday, July 16th.
Large investors have recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of 58.com during the second quarter valued at $43,000. Daiwa Securities Group Inc. bought a new stake in 58.com in the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC bought a new stake in 58.com in the 2nd quarter worth about $90,000. Ellington Management Group LLC bought a new stake in 58.com in the 2nd quarter worth about $230,000. Finally, Banque Pictet & Cie SA bought a new stake in 58.com in the 2nd quarter worth about $260,000. Hedge funds and other institutional investors own 58.75% of the company’s stock.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Wednesday, August 21st. The information services provider reported $4.04 EPS for the quarter. The business had revenue of $601.44 million during the quarter. 58.com had a return on equity of 25.35% and a net margin of 41.67%. As a group, analysts predict that 58.com will post 5.84 earnings per share for the current year.
58.com Inc operates various multi-category online classifieds platforms and vertical listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.
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