58.com (NYSE:WUBA) was downgraded by research analysts at New Street Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $56.00 price objective on the information services provider’s stock. New Street Research’s price objective suggests a potential upside of 3.82% from the company’s current price.

Several other research firms have also recently issued reports on WUBA. Zacks Investment Research cut shares of 58.com from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 18th. Credit Suisse Group upgraded shares of 58.com from a “neutral” rating to an “outperform” rating and set a $59.00 price objective on the stock in a research report on Wednesday, March 18th. China International Capital cut shares of 58.com to a “hold” rating and set a $53.00 price objective on the stock. in a research report on Friday, March 13th. Bank of America reduced their price objective on shares of 58.com from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Finally, Benchmark reduced their price objective on shares of 58.com from $83.00 to $72.00 and set a “positive” rating on the stock in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. 58.com has a consensus rating of “Hold” and an average price target of $61.20.

NYSE WUBA opened at $53.94 on Monday. 58.com has a 12 month low of $37.92 and a 12 month high of $69.89. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 1.41 and a beta of 1.29. The company’s 50 day moving average is $51.49 and its two-hundred day moving average is $55.71.

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its stake in 58.com by 735.6% during the first quarter. FMR LLC now owns 533,106 shares of the information services provider’s stock worth $35,014,000 after buying an additional 469,306 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in 58.com by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 121,264 shares of the information services provider’s stock worth $7,850,000 after buying an additional 1,400 shares during the period. Tower Research Capital LLC TRC purchased a new position in 58.com during the fourth quarter worth $27,000. Barclays PLC boosted its stake in 58.com by 15.6% during the fourth quarter. Barclays PLC now owns 66,216 shares of the information services provider’s stock worth $4,287,000 after buying an additional 8,930 shares during the period. Finally, Korea Investment CORP boosted its stake in 58.com by 4.5% during the fourth quarter. Korea Investment CORP now owns 82,107 shares of the information services provider’s stock worth $5,315,000 after buying an additional 3,500 shares during the period. Institutional investors own 62.78% of the company’s stock.

About 58.com

58.com Inc operates various multi-category online classifieds platforms and vertical listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; Anjuke, an online real estate listing platform; ChinaHR, an online recruitment platform that focuses on white collar jobs; and Jia Xiao Yi Dian Tong, an online platform for driver's license examination preparation and other related services.

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Analyst Recommendations for 58.com (NYSE:WUBA)

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