58.com Inc. (WUBA) Receives $55.50 Consensus Target Price from Analysts

58.com Inc. (NYSE:WUBA) has received a consensus rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $55.50.

WUBA has been the topic of several research analyst reports. Deutsche Bank upgraded shares of 58.com from a “hold” rating to a “buy” rating and raised their price target for the stock from $41.00 to $70.00 in a research report on Tuesday, August 22nd. TheStreet upgraded shares of 58.com from a “c+” rating to a “b-” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “strong-buy” rating and set a $77.00 target price on the stock in a research report on Tuesday, September 19th. upgraded shares of 58.com from a “hold” rating to a “buy” rating and lifted their target price for the company from $45.00 to $69.00 in a research report on Tuesday, August 22nd. Finally, Citigroup assumed coverage on shares of 58.com in a research report on Tuesday, August 8th. They set a “buy” rating and a $62.00 target price on the stock.

58.com (WUBA) traded down $5.43 during midday trading on Friday, reaching $66.98. 1,465,429 shares of the company’s stock traded hands, compared to its average volume of 1,312,794. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.05. The firm has a market cap of $10,608.79, a price-to-earnings ratio of 97.85 and a beta of 2.15. 58.com has a 52 week low of $27.58 and a 52 week high of $79.79.

Several institutional investors have recently modified their holdings of the company. California Public Employees Retirement System boosted its position in shares of 58.com by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 155,853 shares of the information services provider’s stock valued at $9,841,000 after acquiring an additional 2,453 shares in the last quarter. Point72 Asset Management L.P. boosted its position in 58.com by 298.1% in the third quarter. Point72 Asset Management L.P. now owns 21,500 shares of the information services provider’s stock valued at $1,358,000 after buying an additional 16,100 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in 58.com by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 130,738 shares of the information services provider’s stock valued at $8,247,000 after buying an additional 900 shares in the last quarter. Granite Point Capital Management L.P. acquired a new position in 58.com in the third quarter valued at about $568,000. Finally, AMP Capital Investors Ltd acquired a new position in 58.com in the third quarter valued at about $215,000. Institutional investors and hedge funds own 60.92% 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.

Analyst Recommendations for 58.com (NYSE:WUBA)

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