58.com Inc. (NYSE:WUBA) saw unusually large options trading on Friday. Stock traders purchased 20,641 call options on the stock. This represents an increase of approximately 1,411% compared to the average daily volume of 1,366 call options.

58.com (NYSE:WUBA) opened at 53.26 on Monday. The firm’s market cap is $7.74 billion. 58.com has a 52-week low of $27.58 and a 52-week high of $55.79. The company’s 50 day moving average price is $49.92 and its 200 day moving average price is $41.33.

58.com (NYSE:WUBA) last issued its quarterly earnings data on Thursday, May 25th. The information services provider reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.27. The firm had revenue of $288.19 million during the quarter. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. Analysts predict that 58.com will post $0.85 earnings per share for the current fiscal year.

Several analysts have recently issued reports on WUBA shares. Zacks Investment Research upgraded 58.com from a “hold” rating to a “strong-buy” rating and set a $46.00 price target for the company in a research note on Wednesday, May 3rd. Citigroup Inc. started coverage on 58.com in a research note on Tuesday, August 8th. They set a “buy” rating and a $62.00 price target for the company. Morgan Stanley reiterated an “equal weight” rating and set a $42.00 price target on shares of 58.com in a research note on Sunday, May 28th. BidaskClub upgraded 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Finally, Bank of America Corporation upped their price target on 58.com from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 30th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.91.

Large investors have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in 58.com by 0.4% in the second quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock worth $533,576,000 after buying an additional 49,970 shares during the last quarter. General Atlantic LLC increased its stake in 58.com by 22.4% in the second quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after buying an additional 1,310,000 shares during the last quarter. FIL Ltd increased its stake in 58.com by 4.7% in the second quarter. FIL Ltd now owns 5,397,823 shares of the information services provider’s stock worth $238,098,000 after buying an additional 240,292 shares during the last quarter. Platinum Investment Management Ltd. increased its stake in 58.com by 13.6% in the first quarter. Platinum Investment Management Ltd. now owns 5,170,041 shares of the information services provider’s stock worth $182,967,000 after buying an additional 617,217 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its stake in 58.com by 42.3% in the second quarter. Coronation Fund Managers Ltd. now owns 4,391,885 shares of the information services provider’s stock worth $193,726,000 after buying an additional 1,304,456 shares during the last quarter. Institutional investors own 65.05% of the company’s stock.

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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.

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