58.com Inc. (NYSE:WUBA) has been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $55.10.

A number of analysts recently commented on the company. Zacks Investment Research raised 58.com from a “hold” rating to a “strong-buy” rating and set a $77.00 price target for the company in a research report on Tuesday, September 19th. Citigroup Inc. raised 58.com from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $68.00 in a research report on Wednesday, August 23rd. Deutsche Bank AG raised 58.com from a “hold” rating to a “buy” rating and increased their price target for the company from $41.00 to $70.00 in a research report on Tuesday, August 22nd. HSBC Holdings plc raised 58.com from a “hold” rating to a “buy” rating and increased their price target for the company from $45.00 to $69.00 in a research report on Tuesday, August 22nd. Finally, BidaskClub raised 58.com from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th.

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58.com (NYSE:WUBA) traded down 0.49% on Thursday, hitting $65.00. The company had a trading volume of 664,862 shares. 58.com has a one year low of $27.58 and a one year high of $68.85. The stock has a market capitalization of $9.46 billion, a PE ratio of 342.11 and a beta of 2.15. The stock has a 50 day moving average of $64.77 and a 200-day moving average of $49.47.

58.com (NYSE:WUBA) last issued its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. The company had revenue of $382.81 million during the quarter. 58.com had a return on equity of 1.04% and a net margin of 2.14%. Equities analysts anticipate that 58.com will post $1.19 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC increased its position in 58.com by 0.4% in the second quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock worth $533,576,000 after buying an additional 49,970 shares during the last quarter. General Atlantic LLC grew its position in shares of 58.com by 22.4% in the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock valued at $315,387,000 after purchasing an additional 1,310,000 shares in the last quarter. FIL Ltd grew its position in shares of 58.com by 4.7% in the second quarter. FIL Ltd now owns 5,397,823 shares of the information services provider’s stock valued at $238,098,000 after purchasing an additional 240,292 shares in the last quarter. Platinum Investment Management Ltd. grew its position in shares of 58.com by 13.6% in the first quarter. Platinum Investment Management Ltd. now owns 5,170,041 shares of the information services provider’s stock valued at $182,967,000 after purchasing an additional 617,217 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its position in shares of 58.com by 42.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,391,885 shares of the information services provider’s stock valued at $193,726,000 after purchasing an additional 1,304,456 shares in the last quarter. 60.03% of the stock is owned by institutional investors and hedge funds.

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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