Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of 58.com from a strong-buy rating to a hold rating in a research report on Saturday, August 3rd. Jefferies Financial Group assumed coverage on shares of 58.com in a research report on Monday, August 5th. They set a buy rating and a $66.40 price objective for the company. BOCOM International lowered shares of 58.com from a buy rating to a neutral rating in a research report on Friday, August 23rd. Finally, Credit Suisse Group lowered shares of 58.com from an outperform rating to a neutral rating and set a $57.23 price objective for the company. in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. 58.com presently has an average rating of Hold and a consensus target price of $62.93.
Shares of NYSE:WUBA opened at $49.70 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a fifty day moving average price of $52.56 and a 200 day moving average price of $59.40. 58.com has a fifty-two week low of $47.19 and a fifty-two week high of $74.17. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 0.40 and a beta of 1.68.
Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. bought a new position in 58.com during the second quarter valued at $43,000. Daiwa Securities Group Inc. bought a new stake in shares of 58.com in the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC bought a new stake in shares of 58.com in the 2nd quarter worth about $90,000. Ellington Management Group LLC bought a new stake in shares of 58.com in the 2nd quarter worth about $230,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of 58.com in the 2nd quarter worth about $260,000. Institutional investors and hedge funds own 57.96% of the company’s stock.
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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