Shares of 58.com Inc (NYSE:WUBA) have received a consensus recommendation of "Hold" from the nine brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $59.80.
Several research analysts have recently weighed in on WUBA shares. ValuEngine upgraded shares of 58.com from a "strong sell" rating to a "sell" rating in a report on Monday, August 3rd. New Street Research downgraded shares of 58.com from a "buy" rating to a "neutral" rating and set a $56.00 target price for the company. in a research report on Monday, June 29th.
NYSE:WUBA opened at $55.88 on Friday. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.83 and a beta of 1.12. The company's 50-day moving average is $55.80 and its two-hundred day moving average is $53.57. 58.com has a 12-month low of $37.92 and a 12-month high of $69.89.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in 58.com by 65.8% during the second quarter. PNC Financial Services Group Inc. now owns 597 shares of the information services provider's stock worth $32,000 after acquiring an additional 237 shares during the period. Handelsbanken Fonder AB raised its stake in 58.com by 6.6% during the second quarter. Handelsbanken Fonder AB now owns 174,444 shares of the information services provider's stock worth $9,410,000 after acquiring an additional 10,867 shares during the period. FMR LLC raised its stake in 58.com by 25.5% during the second quarter. FMR LLC now owns 15,313 shares of the information services provider's stock worth $826,000 after acquiring an additional 3,112 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 58.com by 4.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 122,372 shares of the information services provider's stock worth $6,601,000 after acquiring an additional 5,566 shares during the period. Finally, CNH Partners LLC acquired a new stake in 58.com during the second quarter worth about $17,200,000. Hedge funds and other institutional investors own 62.45% 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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