58.com Inc. (WUBA) Research Coverage Started at Deutsche Bank AG
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of 58.com from a hold rating to a buy rating and set a $53.00 target price on the stock in a report on Thursday, July 14th. Brean Capital lowered their target price on shares of 58.com from $65.00 to $57.00 and set a buy rating on the stock in a report on Friday, August 19th. Finally, Macquarie began coverage on shares of 58.com in a report on Friday, July 8th. They set an outperform rating and a $71.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $60.30.
58.com (NYSE:WUBA) opened at 48.11 on Wednesday. The stock has a 50 day moving average of $47.47 and a 200-day moving average of $50.26. The firm’s market cap is $6.93 billion. 58.com has a 52 week low of $42.57 and a 52 week high of $70.27.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.26. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. The company had revenue of $297.80 million for the quarter, compared to the consensus estimate of $303.42 million. Analysts expect that 58.com will post ($0.42) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in 58.com during the second quarter valued at approximately $123,000. Howard Hughes Medical Institute increased its position in 58.com by 16.3% in the first quarter. Howard Hughes Medical Institute now owns 2,592 shares of the company’s stock valued at $144,000 after buying an additional 364 shares in the last quarter. Macquarie Group Ltd. increased its position in 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. Fox Run Management L.L.C. bought a new position in 58.com during the second quarter valued at approximately $207,000. Finally, Panagora Asset Management Inc. increased its position in 58.com by 12.9% in the second quarter. Panagora Asset Management Inc. now owns 4,777 shares of the company’s stock valued at $219,000 after buying an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.
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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