58.com Inc. (WUBA) Receives $62.07 Consensus PT from Analysts
58.com Inc. (NYSE:WUBA) has earned an average rating of “Hold” from the nine analysts that are covering the stock. Five equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $64.88.
WUBA has been the topic of several recent research reports. Brean Capital restated a “buy” rating on shares of 58.com in a report on Tuesday, August 9th. Zacks Investment Research downgraded 58.com from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Deutsche Bank AG initiated coverage on 58.com in a report on Wednesday, October 5th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Macquarie initiated coverage on 58.com in a report on Friday, July 8th. They set an “outperform” rating and a $71.00 price target on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its position in 58.com by 24.1% in the third quarter. BNP Paribas Arbitrage SA now owns 242,526 shares of the company’s stock worth $11,559,000 after buying an additional 47,147 shares during 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 worth $151,000 after buying an additional 2,700 shares during the last quarter. Shen Neil Nanpeng acquired a new position in 58.com during the second quarter worth approximately $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 worth $5,530,000 after buying an additional 75,404 shares during the last quarter. Finally, 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 worth $7,962,000 after buying an additional 97,700 shares during the last quarter. Institutional investors and hedge funds own 48.48% of the company’s stock.
Shares of 58.com (NYSE:WUBA) opened at 45.62 on Tuesday. The firm’s market cap is $6.57 billion. The firm has a 50-day moving average price of $47.39 and a 200 day moving average price of $50.12. 58.com has a one year low of $42.57 and a one year high of $70.27.
58.com (NYSE:WUBA) last posted its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.26. 58.com had a negative return on equity of 6.59% and a negative net margin of 27.86%. The firm had revenue of $297.80 million for the quarter, compared to analyst estimates of $303.42 million. On average, analysts forecast that 58.com will post ($0.42) earnings per share for the current fiscal year.
58.com Company Profile
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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