58.com Inc (NYSE:WUBA)’s share price was up 9.3% during trading on Thursday . The stock traded as high as $75.10 and last traded at $74.49. Approximately 1,838,123 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 1,155,323 shares. The stock had previously closed at $68.18.

Several equities analysts have recently commented on WUBA shares. Zacks Investment Research raised shares of 58.com from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 31st. TheStreet downgraded shares of 58.com from a “b-” rating to a “c+” rating in a report on Thursday, June 28th. Finally, ValuEngine raised shares of 58.com from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. 58.com has a consensus rating of “Buy” and an average target price of $89.67.

The firm has a market capitalization of $9.99 billion, a P/E ratio of 54.61 and a beta of 1.95.

58.com (NYSE:WUBA) last released its earnings results on Wednesday, August 15th. The information services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. 58.com had a net margin of 14.21% and a return on equity of 8.07%. The firm had revenue of $518.47 million for the quarter, compared to the consensus estimate of $485.03 million. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. research analysts expect that 58.com Inc will post 1.97 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in 58.com by 230.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,531 shares of the information services provider’s stock worth $122,000 after purchasing an additional 1,068 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in 58.com in the first quarter worth $248,000. Atlas Capital Advisors LLC bought a new stake in 58.com in the second quarter worth $205,000. Hikari Power Ltd bought a new stake in 58.com in the second quarter worth $225,000. Finally, Atria Investments LLC bought a new stake in 58.com in the second quarter worth $232,000. Institutional investors own 59.08% of the company’s stock.

About 58.com (NYSE:WUBA)

58.com Inc operates online classifieds and 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; and Anjuke, an online real estate listing platform.

Recommended Story: Book Value Of Equity Per Share – BVPS Explained

Receive News & Ratings for 58.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com and related companies with MarketBeat.com's FREE daily email newsletter.