58.com Inc (WUBA) Raised to “Hold” at Zacks Investment Research
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. “
A number of other analysts have also weighed in on WUBA. Bank of America Corp. restated a hold rating on shares of 58.com in a report on Saturday, June 4th. Brean Capital started coverage on 58.com in a report on Friday, June 3rd. They set a buy rating and a $65.00 target price for the company. Finally, Macquarie started coverage on 58.com in a report on Friday, July 8th. They set an outperform rating and a $71.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. 58.com presently has a consensus rating of Hold and a consensus price target of $59.63.
58.com (NYSE:WUBA) opened at 47.66 on Friday. The stock’s market cap is $6.87 billion. The stock’s 50 day moving average price is $48.09 and its 200-day moving average price is $50.74. 58.com has a 12 month low of $42.57 and a 12 month high of $70.27.
58.com (NYSE:WUBA) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.26. The firm earned $297.80 million during the quarter, compared to the consensus estimate of $303.42 million. Analysts anticipate that 58.com will post ($0.42) EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of WUBA. Macquarie Group Ltd. raised its stake in shares of 58.com by 450.0% in the second quarter. Macquarie Group Ltd. now owns 3,300 shares of the company’s stock valued at $151,000 after buying an additional 2,700 shares in the last quarter. Shen Neil Nanpeng purchased a new position in 58.com during the second quarter valued at about $1,686,000. Legal & General Group Plc increased its position in 58.com by 167.2% in the second quarter. Legal & General Group Plc now owns 120,504 shares of the company’s stock valued at $5,530,000 after buying an additional 75,404 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in 58.com by 128.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 173,500 shares of the company’s stock valued at $7,962,000 after buying an additional 97,700 shares during the last quarter. Finally, Toronto Dominion Bank purchased a new position in 58.com during the second quarter valued at about $1,002,000.
58.com Inc (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect, share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services.
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