58.com Inc. (NYSE:WUBA) was downgraded by stock analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research report issued on Friday.

A number of other brokerages also recently weighed in on WUBA. Zacks Investment Research raised 58.com from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Thursday, July 14th. Brean Capital reaffirmed a “buy” rating on shares of 58.com in a report on Tuesday, July 19th. Finally, Deutsche Bank AG began coverage on 58.com in a report on Wednesday, October 5th. They issued a “buy” rating and a $65.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.67.

Analyst Recommendations for 58.com (NYSE:WUBA)

Shares of 58.com (NYSE:WUBA) opened at 31.93 on Friday. The company’s market cap is $4.61 billion. 58.com has a 52-week low of $31.18 and a 52-week high of $70.27. The stock’s 50 day moving average price is $44.06 and its 200-day moving average price is $47.78.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.10. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The company had revenue of $306.50 million for the quarter, compared to the consensus estimate of $308.29 million. During the same quarter last year, the business earned ($0.50) EPS. 58.com’s revenue was up 44.0% on a year-over-year basis. Equities analysts expect that 58.com will post ($0.38) EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC increased its position in shares of 58.com by 6.1% in the third quarter. Penserra Capital Management LLC now owns 8,568 shares of the company’s stock valued at $408,000 after buying an additional 490 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of 58.com by 12.9% in the second quarter. Panagora Asset Management Inc. now owns 4,777 shares of the company’s stock valued at $219,000 after buying an additional 544 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of 58.com by 9.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,950 shares of the company’s stock valued at $331,000 after buying an additional 600 shares during the last quarter. Howard Hughes Medical Institute increased its position in shares of 58.com by 18.6% in the third quarter. Howard Hughes Medical Institute now owns 5,181 shares of the company’s stock valued at $247,000 after buying an additional 811 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of 58.com by 14.8% in the third quarter. World Asset Management Inc now owns 7,281 shares of the company’s stock valued at $347,000 after buying an additional 936 shares during the last quarter. 48.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:WUBA

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