58.com Inc. (WUBA) Cut to Hold at HSBC
Other analysts have also issued reports about the stock. Brean Capital restated a buy rating on shares of 58.com in a research note on Wednesday, August 31st. Deutsche Bank AG started coverage on shares of 58.com in a research note on Wednesday, October 5th. They set a buy rating and a $65.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of 58.com from a sell rating to a hold rating in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. 58.com currently has an average rating of Hold and an average target price of $63.67.
Shares of 58.com (NYSE:WUBA) opened at 31.27 on Tuesday. The stock has a 50 day moving average of $42.60 and a 200 day moving average of $47.39. 58.com has a 52-week low of $30.90 and a 52-week high of $70.27. The company’s market cap is $4.52 billion.
58.com (NYSE:WUBA) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.10. The business earned $306.50 million during the quarter, compared to the consensus estimate of $308.29 million. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The firm’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.50) earnings per share. On average, equities research analysts expect that 58.com will post ($0.39) EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in 58.com by 5.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 9,226,786 shares of the company’s stock worth $439,749,000 after buying an additional 445,575 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in 58.com during the third quarter worth approximately $343,000. Jane Street Group LLC boosted its stake in 58.com by 26.9% in the third quarter. Jane Street Group LLC now owns 34,885 shares of the company’s stock worth $1,663,000 after buying an additional 7,393 shares during the last quarter. Hillhouse Capital Management Ltd. purchased a new stake in 58.com during the third quarter worth approximately $264,534,000. Finally, Platinum Investment Management Ltd. boosted its stake in 58.com by 1,717.9% in the third quarter. Platinum Investment Management Ltd. now owns 3,639,402 shares of the company’s stock worth $173,453,000 after buying an additional 3,439,202 shares during the last quarter. 48.70% of the stock is currently owned by institutional investors.
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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