58.com Inc (WUBA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of 58.com Inc (NYSE:WUBA) have been assigned an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $52.67.

Several equities analysts have commented on the company. Zacks Investment Research downgraded 58.com from a “buy” rating to a “hold” rating in a research report on Saturday. TheStreet downgraded 58.com from a “b-” rating to a “c+” rating in a research report on Friday, December 22nd. Finally, BidaskClub downgraded 58.com from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 26th.

Several institutional investors and hedge funds have recently modified their holdings of WUBA. Wells Fargo & Company MN raised its position in shares of 58.com by 0.7% during the second quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock worth $656,000 after acquiring an additional 100 shares during the last quarter. Teachers Advisors LLC raised its position in shares of 58.com by 12.8% during the second quarter. Teachers Advisors LLC now owns 40,487 shares of the information services provider’s stock worth $1,786,000 after acquiring an additional 4,600 shares during the last quarter. New York State Common Retirement Fund bought a new position in shares of 58.com during the second quarter worth about $4,106,000. Northern Trust Corp raised its position in shares of 58.com by 10.9% during the second quarter. Northern Trust Corp now owns 533,186 shares of the information services provider’s stock worth $23,518,000 after acquiring an additional 52,310 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of 58.com by 10.7% during the second quarter. Vanguard Group Inc. now owns 461,460 shares of the information services provider’s stock worth $20,354,000 after acquiring an additional 44,771 shares during the last quarter. Institutional investors own 60.92% of the company’s stock.

58.com (NYSE:WUBA) opened at $72.66 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $10,428.58, a PE ratio of 98.19 and a beta of 2.13. 58.com has a 1 year low of $30.48 and a 1 year high of $87.65.

58.com (NYSE:WUBA) last posted its earnings results on Sunday, November 12th. The information services provider reported $0.36 EPS for the quarter. The firm had revenue of $410.21 million during the quarter. 58.com had a return on equity of 4.08% and a net margin of 7.93%. equities research analysts anticipate that 58.com will post 1.03 EPS for the current fiscal year.

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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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