58.com Inc. (NYSE:WUBA) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also recently issued reports on the company. BidaskClub cut 58.com from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research cut 58.com from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Morgan Stanley cut 58.com from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $42.00 to $40.00 in a report on Friday, June 30th. Bank of America Corporation upped their target price on 58.com from $46.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Finally, CLSA upgraded 58.com from an “underperform” rating to an “outperform” rating and upped their target price for the company from $39.00 to $50.00 in a report on Thursday, May 25th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $44.30.

58.com (WUBA) traded up 1.31% on Thursday, hitting $50.40. 2,087,303 shares of the company were exchanged. 58.com has a 52-week low of $27.58 and a 52-week high of $55.28. The stock’s 50-day moving average price is $43.10 and its 200-day moving average price is $36.34. The stock’s market capitalization is $6.07 billion.

58.com (NYSE:WUBA) last issued its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.27. The firm had revenue of $288.19 million during the quarter. 58.com had a negative return on equity of 1.57% and a negative net margin of 3.18%. On average, equities research analysts anticipate that 58.com will post $0.85 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in 58.com during the fourth quarter valued at about $320,000. State Street Corp raised its stake in 58.com by 1.4% in the fourth quarter. State Street Corp now owns 1,106,200 shares of the information services provider’s stock worth $30,972,000 after buying an additional 14,835 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in 58.com during the fourth quarter worth about $7,526,000. Credit Agricole S A raised its stake in 58.com by 24.6% in the fourth quarter. Credit Agricole S A now owns 37,436 shares of the information services provider’s stock worth $1,048,000 after buying an additional 7,400 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in 58.com by 19.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 333,562 shares of the information services provider’s stock worth $9,340,000 after buying an additional 53,300 shares in the last quarter. 64.78% of the stock is currently owned by hedge funds and other institutional investors.

58.com Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for 58.com (NYSE:WUBA)

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