58.com Inc. (WUBA) Given Average Rating of “Hold” by Brokerages
Shares of 58.com Inc. (NYSE:WUBA) have received a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $62.07.
Several equities analysts have issued reports on the company. Deutsche Bank AG assumed coverage on 58.com in a research report on Wednesday, October 5th. They set a “buy” rating and a $65.00 target price on the stock. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a report on Saturday, October 1st. Brean Capital restated a “buy” rating on shares of 58.com in a report on Wednesday, August 31st. Finally, Macquarie assumed coverage on 58.com in a report on Friday, July 8th. They issued an “outperform” rating and a $71.00 price target on the stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of 58.com by 34.3% in the first quarter. Wellington Management Group LLP now owns 177,931 shares of the company’s stock worth $9,902,000 after buying an additional 45,405 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 in the last quarter. Pictet Asset Management Ltd. raised its position 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 worth $3,242,000 after buying an additional 4,700 shares in the last quarter. UBS Group AG raised its position 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 worth $1,075,000 after buying an additional 13,217 shares in the last quarter. Finally, Serenity Capital Management Ltd raised its position 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 worth $25,862,000 after buying an additional 315,466 shares in the last quarter. 48.48% of the stock is currently owned by institutional investors.
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/2016/10/11/58-com-inc-wuba-given-average-rating-of-hold-by-brokerages.html
58.com (NYSE:WUBA) traded down 1.729% during midday trading on Tuesday, reaching $47.278. The company’s stock had a trading volume of 863,135 shares. The firm’s market cap is $6.81 billion. The company has a 50 day moving average price of $47.47 and a 200 day moving average price of $50.27. 58.com has a 1-year low of $42.57 and a 1-year high of $70.27.
58.com (NYSE:WUBA) last released 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 company had revenue of $297.80 million for the quarter, compared to analysts’ expectations of $303.42 million. On average, equities research analysts expect that 58.com will post ($0.42) EPS for the current 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.
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.