WUBA has been the topic of several other reports. Zacks Investment Research cut shares of 58.com from a buy rating to a hold rating in a research report on Thursday, July 28th. Macquarie began coverage on shares of 58.com in a report on Friday, July 8th. They set an outperform rating and a $71.00 price target on the stock. Finally, Deutsche Bank AG began coverage on shares of 58.com in a report on Wednesday, October 5th. They set a buy rating and a $65.00 price target on the stock. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $62.06.
58.com (NYSE:WUBA) traded down 0.76% during trading on Tuesday, reaching $44.46. The company’s stock had a trading volume of 188,369 shares. The stock’s market capitalization is $6.41 billion. The firm has a 50 day moving average of $47.32 and a 200 day moving average of $49.88. 58.com has a 52 week low of $42.57 and a 52 week high of $70.27.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Thursday, August 18th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.26. 58.com had a negative net margin of 27.86% and a negative return on equity of 6.59%. The firm had revenue of $297.80 million for the quarter, compared to analysts’ expectations of $303.42 million. Analysts expect that 58.com will post ($0.42) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Oasis Management Co Ltd. acquired a new stake in 58.com during the first quarter valued at about $412,000. Legal & General Group Plc raised its stake in 58.com by 7.4% in the first quarter. Legal & General Group Plc now owns 45,100 shares of the company’s stock valued at $2,510,000 after buying an additional 3,100 shares during the last quarter. Wealthsource Partners LLC acquired a new stake in 58.com during the first quarter valued at about $265,000. NINE MASTS CAPITAL Ltd acquired a new stake in 58.com during the first quarter valued at about $997,000. Finally, Wellington Management Group LLP raised its stake in 58.com by 34.3% in the first quarter. Wellington Management Group LLP now owns 177,931 shares of the company’s stock valued at $9,902,000 after buying an additional 45,405 shares during the last quarter. 48.51% of the stock is owned by institutional investors and hedge funds.
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.
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