58.com Inc. (WUBA) Stock Rating Upgraded by TheStreet
58.com Inc. (NYSE:WUBA) was upgraded by research analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Friday.
A number of other brokerages have also recently commented on WUBA. Zacks Investment Research cut 58.com from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Deutsche Bank AG raised 58.com from a “hold” rating to a “buy” rating and raised their target price for the stock from $41.00 to $70.00 in a report on Tuesday, August 22nd. ValuEngine raised 58.com from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub raised 58.com from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Finally, raised 58.com from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $69.00 in a report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. 58.com has a consensus rating of “Hold” and an average price target of $55.10.
58.com (NYSE WUBA) traded up $4.14 during mid-day trading on Friday, hitting $73.00. The stock had a trading volume of 4,529,600 shares, compared to its average volume of 1,323,162. The stock has a market cap of $10,024.23, a P/E ratio of 405.06 and a beta of 2.15. 58.com has a 52-week low of $27.58 and a 52-week high of $74.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05.
58.com (NYSE:WUBA) last released its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.42. The firm had revenue of $382.81 million for the quarter. 58.com had a return on equity of 1.04% and a net margin of 2.14%. sell-side analysts expect that 58.com will post 0.69 earnings per share for the current year.
Several institutional investors have recently modified their holdings of WUBA. Invictus RG purchased a new position in shares of 58.com during the third quarter valued at about $167,000. AJO LP purchased a new position in 58.com in the second quarter worth about $201,000. Fox Run Management L.L.C. purchased a new position in 58.com in the third quarter worth about $202,000. AMP Capital Investors Ltd purchased a new position in 58.com in the third quarter worth about $215,000. Finally, Wetherby Asset Management Inc. purchased a new position in 58.com in the second quarter worth about $261,000. Hedge funds and other institutional investors own 61.94% of the company’s stock.
58.com Company Profile
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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