Somewhat Positive News Coverage Somewhat Unlikely to Impact 58.com (WUBA) Stock Price

News stories about 58.com (NYSE:WUBA) have trended somewhat positive on Tuesday, according to Accern Sentiment. Accern identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. 58.com earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave press coverage about the information services provider an impact score of 45.8359657592873 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.

Shares of 58.com (WUBA) traded up 0.41% during midday trading on Tuesday, reaching $66.55. The company had a trading volume of 766,759 shares. The stock has a market capitalization of $9.69 billion, a PE ratio of 357.80 and a beta of 2.17. The stock’s 50 day moving average is $57.15 and its 200-day moving average is $45.06. 58.com has a 12-month low of $27.58 and a 12-month high of $68.00.

58.com (NYSE:WUBA) last announced its quarterly earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.42. The business had revenue of $382.81 million for the quarter. 58.com had a return on equity of 1.04% and a net margin of 2.14%. On average, equities research analysts predict that 58.com will post $1.17 earnings per share for the current fiscal year.

WUBA has been the topic of several recent analyst reports. Zacks Investment Research cut 58.com from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Deutsche Bank AG upgraded 58.com from a “hold” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $70.00 in a report on Tuesday, August 22nd. ValuEngine upgraded 58.com from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. BidaskClub cut 58.com from a “buy” rating to a “hold” rating in a report on Friday, June 16th. Finally, Morgan Stanley cut 58.com from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $42.00 to $40.00 in a report on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.82.

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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.

Insider Buying and Selling by Quarter for 58.com (NYSE:WUBA)

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