Investors Purchase Large Volume of 58.com Put Options (WUBA)
Shares of 58.com (NASDAQ:WUBA) saw unusually large options trading activity on Thursday. Traders purchased 4,533 put options on the stock, Stock Ratings Network.com reports. This represents an increase of 560% compared to the average volume of 687 put options.
Separately, analysts at Pacific Crest cut their price target on shares of 58.com from $58.00 to $55.00 in a research note on Friday, May 23rd. They now have an “outperform” rating on the stock.
58.com (NASDAQ:WUBA) traded down 7.63% on Thursday, hitting $46.73. 5,742,998 shares of the company’s stock traded hands. 58.com has a 52 week low of $21.15 and a 52 week high of $58.89. The stock has a 50-day moving average of $50.7 and a 200-day moving average of $44.88. The company has a market cap of $3.806 billion and a price-to-earnings ratio of 139.37.
58.com (NASDAQ:WUBA) last posted its quarterly earnings results on Thursday, August 21st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $64.60 million for the quarter, compared to the consensus estimate of $62.70 million. The company’s revenue for the quarter was up 84.0% on a year-over-year basis. On average, analysts predict that 58.com will post $0.44 earnings per share for the current fiscal year.
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