Analysts Set 58.com Inc. (WUBA) Price Target at $62.07
Shares of 58.com Inc. (NYSE:WUBA) have received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $62.07.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Macquarie assumed coverage on shares of 58.com in a research report on Friday, July 8th. They issued an “outperform” rating and a $71.00 price objective on the stock. Brean Capital reissued a “buy” rating on shares of 58.com in a research report on Wednesday, August 31st. Finally, Deutsche Bank AG assumed coverage on shares of 58.com in a research report on Wednesday, October 5th. They issued a “buy” rating and a $65.00 price objective on the stock.
58.com (NYSE:WUBA) opened at 45.11 on Tuesday. 58.com has a 52-week low of $42.57 and a 52-week high of $70.27. The firm’s market capitalization is $6.50 billion. The firm has a 50-day moving average of $47.42 and a 200-day moving average of $50.17.
58.com (NYSE:WUBA) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $303.42 million. On average, equities research analysts forecast that 58.com will post ($0.42) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of 58.com by 24.1% in the third quarter. BNP Paribas Arbitrage SA now owns 242,526 shares of the company’s stock worth $11,559,000 after buying an additional 47,147 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of 58.com by 450.0% in the second quarter. Macquarie Group Ltd. now owns 3,300 shares of the company’s stock worth $151,000 after buying an additional 2,700 shares during the last quarter. Shen Neil Nanpeng purchased a new stake in shares of 58.com during the second quarter worth about $1,686,000. Legal & General Group Plc increased its stake in shares of 58.com by 167.2% in the second quarter. Legal & General Group Plc now owns 120,504 shares of the company’s stock worth $5,530,000 after buying an additional 75,404 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of 58.com by 128.9% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 173,500 shares of the company’s stock worth $7,962,000 after buying an additional 97,700 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.
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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