58.com (NYSE:WUBA) was downgraded by stock analysts at ValuEngine from a "sell" rating to a "strong sell" rating in a report released on Friday, ValuEngine reports.
Several other equities research analysts have also recently commented on the stock. China International Capital cut shares of 58.com to a "hold" rating and set a $53.00 price objective on the stock. in a research report on Friday, March 13th. New Street Research cut shares of 58.com from a "buy" rating to a "neutral" rating and set a $56.00 price objective on the stock. in a research report on Monday, June 29th. Credit Suisse Group raised shares of 58.com from a "neutral" rating to an "outperform" rating and set a $59.00 price objective on the stock in a research report on Wednesday, March 18th. Zacks Investment Research cut shares of 58.com from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 18th. Finally, Bank of America cut their price objective on shares of 58.com from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Thursday, March 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. The company currently has an average rating of "Hold" and a consensus target price of $61.20.
NYSE WUBA traded up $0.06 during trading hours on Friday, reaching $54.24. 2,562,400 shares of the company's stock were exchanged, compared to its average volume of 1,164,934. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.98 and a beta of 1.27. The company's 50-day moving average is $51.94 and its two-hundred day moving average is $55.26. 58.com has a one year low of $37.92 and a one year high of $69.89.
58.com (NYSE:WUBA) last released its quarterly earnings results on Friday, June 26th. The information services provider reported $1.53 earnings per share for the quarter. 58.com had a net margin of 61.33% and a return on equity of 31.74%. The company had revenue of $361.37 million during the quarter. Analysts predict that 58.com will post 2.64 EPS for the current year.
A number of large investors have recently modified their holdings of WUBA. FMR LLC lifted its position in 58.com by 735.6% during the 1st quarter. FMR LLC now owns 533,106 shares of the information services provider's stock worth $35,014,000 after buying an additional 469,306 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of 58.com by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 7,855 shares of the information services provider's stock worth $508,000 after purchasing an additional 433 shares during the last quarter. Raymond James & Associates increased its stake in shares of 58.com by 46.1% during the 4th quarter. Raymond James & Associates now owns 66,343 shares of the information services provider's stock worth $4,294,000 after purchasing an additional 20,936 shares during the last quarter. Chevy Chase Trust Holdings Inc. acquired a new position in shares of 58.com during the 4th quarter worth about $33,000. Finally, Credit Suisse AG increased its stake in shares of 58.com by 19.8% during the 4th quarter. Credit Suisse AG now owns 275,660 shares of the information services provider's stock worth $17,844,000 after purchasing an additional 45,605 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
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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