58.com Inc. (NYSE:WUBA) has received a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $52.67.

Several equities analysts have weighed in on WUBA shares. CLSA upgraded 58.com from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $39.00 to $50.00 in a research note on Thursday, May 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $42.00 target price on shares of 58.com in a research report on Sunday, May 28th. Bank of America Corporation raised their target price on 58.com from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Zacks Investment Research lowered 58.com from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, BidaskClub lowered 58.com from a “buy” rating to a “hold” rating in a research report on Friday, June 16th.

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A number of hedge funds and other institutional investors have recently modified their holdings of WUBA. FMR LLC boosted its position in shares of 58.com by 0.4% during the 2nd quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock valued at $533,576,000 after acquiring an additional 49,970 shares during the last quarter. General Atlantic LLC boosted its position in shares of 58.com by 22.4% during the 2nd quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock valued at $315,387,000 after acquiring an additional 1,310,000 shares during the last quarter. FIL Ltd boosted its position in shares of 58.com by 4.7% during the 2nd quarter. FIL Ltd now owns 5,397,823 shares of the information services provider’s stock valued at $238,098,000 after acquiring an additional 240,292 shares during the last quarter. Platinum Investment Management Ltd. boosted its position in shares of 58.com by 13.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 5,170,041 shares of the information services provider’s stock valued at $182,967,000 after acquiring an additional 617,217 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in shares of 58.com by 42.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 4,391,885 shares of the information services provider’s stock valued at $193,726,000 after acquiring an additional 1,304,456 shares during the last quarter. Institutional investors and hedge funds own 60.03% of the company’s stock.

Shares of 58.com (NYSE:WUBA) traded down 1.25% during trading on Friday, reaching $67.15. 1,419,891 shares of the company were exchanged. 58.com has a one year low of $27.58 and a one year high of $68.85. The company has a market capitalization of $9.78 billion, a PE ratio of 359.09 and a beta of 2.17. The firm’s 50 day moving average price is $59.08 and its 200 day moving average price is $45.88.

58.com (NYSE:WUBA) last issued its quarterly earnings data on Monday, August 21st. The information services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.42. 58.com had a return on equity of 1.04% and a net margin of 2.14%. The business had revenue of $382.81 million for the quarter. Equities research analysts forecast that 58.com will post $1.20 earnings per share for the current fiscal year.

About 58.com

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.

Analyst Recommendations for 58.com (NYSE:WUBA)

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