58.com Inc. (WUBA) Stock Rating Lowered by Credit Agricole SA
58.com Inc. (NYSE:WUBA) was downgraded by Credit Agricole SA from an “outperform” rating to an “underperform” rating in a research report issued on Friday.
Several other brokerages have also issued reports on WUBA. Brean Capital lowered 58.com from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research note on Friday. Deutsche Bank AG began coverage on 58.com in a research note on Wednesday, October 5th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research note on Saturday, September 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.67.
Shares of 58.com (NYSE:WUBA) opened at 31.93 on Friday. 58.com has a 52 week low of $31.18 and a 52 week high of $70.27. The firm’s 50-day moving average price is $44.06 and its 200 day moving average price is $47.78. The company’s market cap is $4.61 billion.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.21) earnings per share for the quarter, missing the 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 business had revenue of $306.50 million for the quarter, compared to analyst estimates of $308.29 million. During the same period in the prior year, the firm posted ($0.50) EPS. 58.com’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, equities analysts predict that 58.com will post ($0.38) EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in 58.com during the third quarter worth approximately $119,000. Strs Ohio purchased a new position in 58.com during the second quarter valued at about $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 in the last quarter. 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 in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in 58.com during the second quarter valued at about $207,000. Institutional investors and hedge funds own 48.70% 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.
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