Analysts Set 58.com Inc. (WUBA) Price Target at $62.75
Shares of 58.com Inc. (NYSE:WUBA) have been given a consensus rating of “Hold” by the ten research firms that are covering the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $57.60.
WUBA has been the subject of a number of recent research reports. Brean Capital downgraded 58.com from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a report on Friday, November 11th. HSBC downgraded 58.com from a “buy” rating to a “hold” rating and decreased their price objective for the company from $66.00 to $37.00 in a report on Tuesday, November 15th. Deutsche Bank AG initiated coverage on 58.com in a report on Wednesday, October 5th. They issued a “buy” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a report on Saturday, September 3rd. Finally, Credit Agricole SA downgraded 58.com from an “outperform” rating to an “underperform” rating in a report on Friday, November 11th.
A number of hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of 58.com during the third quarter worth $119,000. Strs Ohio acquired a new stake in shares of 58.com during the second quarter worth $123,000. 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. Howard Hughes Medical Institute increased its stake in shares of 58.com by 68.6% in the second quarter. Howard Hughes Medical Institute now owns 4,370 shares of the company’s stock worth $201,000 after buying an additional 1,778 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of 58.com during the second quarter worth $207,000. Hedge funds and other institutional investors own 48.70% of the company’s stock.
Shares of 58.com (NYSE:WUBA) opened at 31.30 on Tuesday. The stock has a 50 day moving average price of $44.55 and a 200-day moving average price of $48.06. 58.com has a one year low of $31.06 and a one year high of $70.27. The company’s market capitalization is $4.53 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 Zacks’ consensus estimate of ($0.11) by $0.10. The company 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 5.05%. The business’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.50) earnings per share. On average, equities research analysts expect that 58.com will post ($0.39) EPS for the current year.
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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