58.com Inc. (NYSE:WUBA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China. “

A number of other research analysts have also issued reports on WUBA. Citigroup Inc. began coverage on 58.com in a report on Tuesday, August 8th. They issued a “buy” rating and a $62.00 target price on the stock. BidaskClub lowered 58.com from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Bank of America Corporation boosted 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. Morgan Stanley reissued an “equal weight” rating and issued a $42.00 target price on shares of 58.com in a report on Sunday, May 28th. Finally, ValuEngine raised 58.com from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $54.82.

Shares of 58.com (WUBA) opened at 67.15 on Friday. 58.com has a 52-week low of $27.58 and a 52-week high of $68.85. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of 359.09 and a beta of 2.17. The firm has a 50-day moving average price of $59.08 and a 200 day moving average price of $45.88.

58.com (NYSE:WUBA) last released its earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. The business had revenue of $382.81 million for the quarter. 58.com had a return on equity of 1.04% and a net margin of 2.14%. Analysts expect that 58.com will post $1.20 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of 58.com by 0.7% in the second quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock valued at $656,000 after buying an additional 100 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of 58.com by 0.4% in the second quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock valued at $2,315,000 after buying an additional 188 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of 58.com by 6.7% in the second quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock valued at $319,000 after buying an additional 453 shares in the last quarter. Aviva PLC boosted its stake in shares of 58.com by 3.4% in the second quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock valued at $675,000 after buying an additional 500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of 58.com by 15.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,050 shares of the information services provider’s stock valued at $355,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 60.03% of the company’s stock.

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.

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Analyst Recommendations for 58.com (NYSE:WUBA)

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