58.com Inc. (WUBA) Coverage Initiated at Deutsche Bank AG
Investment analysts at Deutsche Bank AG assumed coverage on shares of 58.com Inc. (NYSE:WUBA) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $65.00 price target on the stock. Deutsche Bank AG’s price target indicates a potential upside of 35.78% from the company’s current price.
A number of other research firms have also weighed in on WUBA. Brean Capital decreased their price objective on shares of 58.com from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, August 19th. Zacks Investment Research lowered shares of 58.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 8th. 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 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $60.30.
Shares of 58.com (NYSE:WUBA) traded up 0.27% on Wednesday, hitting $47.87. 919,745 shares of the stock were exchanged. The firm’s 50 day moving average price is $47.47 and its 200 day moving average price is $50.42. 58.com has a one year low of $42.57 and a one year high of $70.27. The firm’s market cap is $6.90 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/08/58-com-inc-wuba-coverage-initiated-at-deutsche-bank-ag.html
58.com (NYSE:WUBA) last released its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.26. The business earned $297.80 million during the quarter, compared to analyst estimates of $303.42 million. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. Equities analysts anticipate that 58.com will post ($0.42) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in 58.com by 41.3% in the first quarter. Geode Capital Management LLC now owns 16,165 shares of the company’s stock worth $889,000 after buying an additional 4,727 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of 58.com by 8.3% in the first quarter. Pictet Asset Management Ltd. now owns 61,180 shares of the company’s stock valued at $3,242,000 after buying an additional 4,700 shares in the last quarter. UBS Group AG increased its stake in shares of 58.com by 216.6% in the first quarter. UBS Group AG now owns 19,320 shares of the company’s stock valued at $1,075,000 after buying an additional 13,217 shares in the last quarter. Serenity Capital Management Ltd increased its stake in shares of 58.com by 211.4% in the first quarter. Serenity Capital Management Ltd now owns 464,722 shares of the company’s stock valued at $25,862,000 after buying an additional 315,466 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of 58.com by 8.0% in the first quarter. Aviva PLC now owns 5,400 shares of the company’s stock valued at $301,000 after buying an additional 400 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.
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.
Receive News & Ratings for 58.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.