58.com (NYSE:WUBA) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of 58.com (NYSE:WUBA) from a hold rating to a buy rating in a report published on Sunday, January 21st. They currently have $92.00 target price on the information services provider’s stock.

According to Zacks, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China. “

Several other equities research analysts also recently weighed in on the company. TheStreet downgraded 58.com from a b- rating to a c+ rating in a research report on Friday, December 22nd. BidaskClub downgraded 58.com from a strong-buy rating to a buy rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $56.60.

58.com (WUBA) traded down $0.17 during mid-day trading on Friday, reaching $71.18. The company’s stock had a trading volume of 953,799 shares, compared to its average volume of 1,130,000. 58.com has a 1 year low of $30.48 and a 1 year high of $87.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $10,360.00, a P/E ratio of 90.10 and a beta of 2.12.

58.com (NYSE:WUBA) last issued its earnings results on Sunday, November 12th. The information services provider reported $0.36 earnings per share for the quarter. 58.com had a return on equity of 4.08% and a net margin of 7.93%. The company had revenue of $410.21 million during the quarter. equities analysts predict that 58.com will post 1.03 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in WUBA. FMR LLC raised its position in shares of 58.com by 0.4% during the 2nd quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock worth $533,576,000 after purchasing an additional 49,970 shares during the period. General Atlantic LLC raised its position in shares of 58.com by 22.4% during the 2nd quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock worth $315,387,000 after purchasing an additional 1,310,000 shares during the period. Carmignac Gestion raised its position in shares of 58.com by 1,105.5% during the 3rd quarter. Carmignac Gestion now owns 5,172,323 shares of the information services provider’s stock worth $326,580,000 after purchasing an additional 4,743,260 shares during the period. Baillie Gifford & Co. raised its position in shares of 58.com by 258.4% during the 3rd quarter. Baillie Gifford & Co. now owns 4,823,568 shares of the information services provider’s stock worth $304,561,000 after purchasing an additional 3,477,536 shares during the period. Finally, BlackRock Inc. raised its position in shares of 58.com by 7.3% during the 2nd quarter. BlackRock Inc. now owns 4,299,458 shares of the information services provider’s stock worth $189,648,000 after purchasing an additional 291,891 shares during the period. Hedge funds and other institutional investors own 60.92% of the company’s stock.

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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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