58.com Inc. (WUBA) Receives $55.10 Average Target Price from Analysts

Shares of 58.com Inc. (NYSE:WUBA) have earned an average recommendation of “Hold” from the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $55.10.

A number of equities research analysts have recently weighed in on the company. Citigroup Inc. assumed coverage on 58.com in a research note on Tuesday, August 8th. They issued a “buy” rating and a $62.00 price objective for the company. Zacks Investment Research cut 58.com from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised 58.com from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. ValuEngine raised 58.com from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Morgan Stanley cut 58.com from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $42.00 to $40.00 in a research note on Friday, June 30th.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. AJO LP purchased a new stake in 58.com during the 2nd quarter worth about $201,000. Teacher Retirement System of Texas purchased a new stake in 58.com during the 1st quarter worth about $240,000. Wetherby Asset Management Inc. purchased a new stake in 58.com during the 2nd quarter worth about $261,000. Comerica Bank purchased a new stake in 58.com during the 1st quarter worth about $263,000. Finally, Trexquant Investment LP purchased a new stake in 58.com during the 2nd quarter worth about $265,000. 60.03% of the stock is owned by institutional investors.

Shares of 58.com (NYSE:WUBA) traded up 0.48% during midday trading on Thursday, hitting $68.80. The company’s stock had a trading volume of 672,012 shares. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of 362.11 and a beta of 2.15. The firm has a 50-day moving average of $64.64 and a 200 day moving average of $49.99. 58.com has a 12-month low of $27.58 and a 12-month high of $69.05.

58.com (NYSE:WUBA) last issued its quarterly earnings data on Monday, August 21st. The information services provider reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. 58.com had a return on equity of 1.04% and a net margin of 2.14%. The business had revenue of $382.81 million during the quarter. On average, equities research analysts predict that 58.com will post $1.23 EPS for the current fiscal 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.

Analyst Recommendations for 58.com (NYSE:WUBA)

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