Sanford C. Bernstein Initiates Coverage on 58.com Inc. (WUBA)
Investment analysts at Sanford C. Bernstein started coverage on shares of 58.com Inc. (NYSE:WUBA) in a research report issued to clients and investors on Wednesday. The brokerage set an “underperform” rating on the stock.
A number of other brokerages have also recently commented on WUBA. Zacks Investment Research upgraded shares of 58.com from a “sell” rating to a “hold” rating in a research report on Saturday, October 1st. Deutsche Bank AG started coverage on shares of 58.com in a report on Wednesday, October 5th. They issued a “buy” rating and a $65.00 price target on the stock. Brean Capital reissued a “buy” rating on shares of 58.com in a report on Tuesday, October 18th. CLSA lowered shares of 58.com from an “outperform” rating to an “underperform” rating in a report on Friday, November 11th. Finally, Credit Suisse Group lowered shares of 58.com from an “outperform” rating to a “neutral” rating in a report on Friday, November 11th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.80.
58.com (NYSE:WUBA) opened at 30.48 on Wednesday. The stock’s 50 day moving average is $30.79 and its 200 day moving average is $42.52. The firm’s market cap is $4.41 billion. 58.com has a one year low of $27.72 and a one year high of $61.59.
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58.com (NYSE:WUBA) last issued its earnings results on Thursday, November 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.10. The business earned $306.50 million during the quarter, compared to analysts’ expectations of $308.29 million. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. 58.com’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.50) EPS. On average, analysts predict that 58.com will post ($0.33) earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of 58.com during the third quarter worth $119,000. Strs Ohio acquired a new stake in 58.com during the second quarter valued at approximately $123,000. Howard Hughes Medical Institute raised its stake in 58.com by 16.3% in the first quarter. Howard Hughes Medical Institute now owns 2,592 shares of the company’s stock valued at $144,000 after buying an additional 364 shares during the last quarter. Macquarie Group Ltd. raised its stake in 58.com by 450.0% in the second quarter. Macquarie Group Ltd. now owns 3,300 shares of the company’s stock valued at $151,000 after buying an additional 2,700 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new stake in 58.com during the first quarter valued at approximately $207,000. 56.21% of the stock is currently owned by hedge funds and other institutional investors.
58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.
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