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. “
Several other research firms have also recently weighed in on WUBA. Brean Capital decreased their target price on shares of 58.com from $65.00 to $57.00 and set a buy rating for the company in a research note on Friday, August 19th. Bank of America Corp. reissued a hold rating on shares of 58.com in a research note on Saturday, June 4th. Finally, Macquarie initiated coverage on shares of 58.com in a research note on Friday, July 8th. They issued an outperform rating and a $71.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $59.63.
58.com (NYSE:WUBA) opened at 47.66 on Friday. The firm’s market capitalization is $6.87 billion. 58.com has a 1-year low of $42.57 and a 1-year high of $70.27. The firm’s 50-day moving average is $48.09 and its 200-day moving average is $50.74.
58.com (NYSE:WUBA) last released its earnings results on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.26. The firm earned $297.80 million during the quarter, compared to the consensus estimate of $303.42 million. On average, equities analysts anticipate that 58.com will post ($0.42) EPS for the current year.
Large investors have recently made changes to their positions in the stock. Pictet Asset Management Ltd. boosted its stake in shares of 58.com by 8.3% in the first quarter. Pictet Asset Management Ltd. now owns 61,180 shares of the company’s stock worth $3,242,000 after buying an additional 4,700 shares during the last quarter. UBS Group AG boosted its stake in shares of 58.com by 216.6% in the first quarter. UBS Group AG now owns 19,320 shares of the company’s stock worth $1,075,000 after buying an additional 13,217 shares during the last quarter. Serenity Capital Management Ltd boosted its stake in shares of 58.com by 211.4% in the first quarter. Serenity Capital Management Ltd now owns 464,722 shares of the company’s stock worth $25,862,000 after buying an additional 315,466 shares during the last quarter. Aviva PLC boosted its stake in shares of 58.com by 8.0% in the first quarter. Aviva PLC now owns 5,400 shares of the company’s stock worth $301,000 after buying an additional 400 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of 58.com by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 163,133 shares of the company’s stock worth $9,077,000 after buying an additional 10,637 shares during the last quarter.
58.com Company Profile
58.com Inc (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect, share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities, across the content categories, including housing, jobs, used goods, automotive, pets, tickets, yellow pages and other local services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for 58.com Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com Inc and related companies with MarketBeat.com's FREE daily email newsletter.