58.com Inc. (WUBA) Given Buy Rating at Brean Capital
58.com Inc. (NYSE:WUBA)‘s stock had its “buy” rating reiterated by analysts at Brean Capital in a note issued to investors on Tuesday.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded 58.com from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Thursday, July 14th. Deutsche Bank AG began coverage on 58.com in a research note on Wednesday, October 5th. They set a “buy” rating and a $65.00 price target for the company. Finally, Macquarie began coverage on 58.com in a research note on Friday, July 8th. They set an “outperform” rating and a $71.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.06.
Shares of 58.com (NYSE:WUBA) traded up 0.35% during midday trading on Tuesday, reaching $45.24. The company’s stock had a trading volume of 1,531,703 shares. The stock’s market capitalization is $6.52 billion. 58.com has a 12 month low of $42.57 and a 12 month high of $70.27. The stock’s 50-day moving average is $47.36 and its 200 day moving average is $49.96.
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58.com (NYSE:WUBA) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $297.80 million for the quarter, compared to the consensus estimate of $303.42 million. On average, analysts expect that 58.com will post ($0.42) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Aviva PLC boosted its position in 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 during the period. Panagora Asset Management Inc. boosted its position in 58.com by 12.9% in the second quarter. Panagora Asset Management Inc. now owns 4,777 shares of the company’s stock valued at $219,000 after buying an additional 544 shares during the period. World Asset Management Inc boosted its position in 58.com by 21.4% in the second quarter. World Asset Management Inc now owns 6,345 shares of the company’s stock valued at $291,000 after buying an additional 1,117 shares during the period. Howard Hughes Medical Institute boosted its position in 58.com by 68.6% in the second quarter. Howard Hughes Medical Institute now owns 4,370 shares of the company’s stock valued at $201,000 after buying an additional 1,778 shares during the period. Finally, BlackRock Japan Co. Ltd boosted its position in 58.com by 5.5% in the first quarter. BlackRock Japan Co. Ltd now owns 44,485 shares of the company’s stock valued at $2,476,000 after buying an additional 2,322 shares during the period. 48.51% of the stock is owned by institutional investors and hedge funds.
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.
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