58.com Inc. (WUBA) Rating Reiterated by Brean Capital
58.com Inc. (NYSE:WUBA)‘s stock had its “buy” rating reaffirmed by analysts at Brean Capital in a research report issued on Tuesday.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Thursday, July 14th. Deutsche Bank AG began coverage on shares of 58.com in a research report on Wednesday, October 5th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Macquarie started coverage on shares of 58.com in a research report on Friday, July 8th. They set an “outperform” rating and a $71.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.06.
58.com (NYSE:WUBA) traded up 0.35% during mid-day trading on Tuesday, reaching $45.24. 1,531,703 shares of the company’s stock traded hands. 58.com has a 12-month low of $42.57 and a 12-month high of $70.27. The stock’s market capitalization is $6.52 billion. The stock has a 50-day moving average price of $47.36 and a 200-day moving average price of $49.96.
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58.com (NYSE:WUBA) last posted its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.26. The company earned $297.80 million during the quarter, compared to analysts’ expectations of $303.42 million. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. Equities research analysts expect that 58.com will post ($0.42) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake 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 during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of 58.com by 134.2% in the second quarter. Gulf International Bank UK Ltd now owns 20,770 shares of the company’s stock worth $953,000 after buying an additional 11,900 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of 58.com by 7.2% in the first quarter. BlackRock Fund Advisors now owns 494,489 shares of the company’s stock worth $27,518,000 after buying an additional 33,215 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of 58.com during the first quarter worth $21,201,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 58.com by 65.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 186,031 shares of the company’s stock worth $8,537,000 after buying an additional 73,476 shares during the last quarter. Institutional investors own 48.51% of the company’s stock.
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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