58.com Inc. (NYSE:WUBA) was downgraded by Brean Capital from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other analysts have also issued research reports about the company. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd. Deutsche Bank AG began coverage on 58.com in a research report on Wednesday, October 5th. They issued a “buy” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $63.67.

Analyst Recommendations for 58.com (NYSE:WUBA)

58.com (NYSE:WUBA) opened at 33.35 on Friday. 58.com has a 52 week low of $33.13 and a 52 week high of $70.27. The company’s market capitalization is $4.81 billion. The company’s 50-day moving average price is $45.05 and its 200-day moving average price is $48.22.

58.com (NYSE:WUBA) last released its earnings results on Thursday, November 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.10. The business earned $306.50 million during the quarter, compared to analyst estimates of $308.29 million. 58.com had a negative net margin of 9.27% and a negative return on equity of 5.02%. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period last year, the business earned ($0.50) EPS. On average, equities analysts forecast that 58.com will post ($0.38) EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in 58.com during the third quarter valued at approximately $119,000. Strs Ohio bought a new position in 58.com during the second quarter valued at approximately $123,000. Macquarie Group Ltd. increased its position in 58.com by 450.0% in the second quarter. Macquarie Group Ltd. now owns 3,300 shares of the company’s stock valued at $151,000 after buying an additional 2,700 shares during the period. Howard Hughes Medical Institute increased its position in 58.com by 68.6% in the second quarter. Howard Hughes Medical Institute now owns 4,370 shares of the company’s stock valued at $201,000 after buying an additional 1,778 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in 58.com during the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 47.18% of the company’s stock.

58.com Company Profile

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.

5 Day Chart for NYSE:WUBA

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