58.com Inc (NYSE:WUBA) traded down 5.5% during mid-day trading on Thursday . The company traded as low as $61.27 and last traded at $61.71. 857,215 shares were traded during trading, a decline of 23% from the average session volume of 1,118,660 shares. The stock had previously closed at $65.27.
WUBA has been the topic of a number of research analyst reports. ValuEngine upgraded 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. CLSA restated a “buy” rating on shares of 58.com in a research note on Thursday, September 20th. TheStreet upgraded 58.com from a “c” rating to a “b-” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research raised 58.com from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $89.67.
The firm has a market cap of $9.04 billion, a P/E ratio of 46.82 and a beta of 1.95.
58.com (NYSE:WUBA) last released its earnings results on Wednesday, August 15th. The information services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $518.47 million for the quarter, compared to analyst estimates of $485.03 million. 58.com had a return on equity of 8.07% and a net margin of 14.21%. 58.com’s quarterly revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, analysts expect that 58.com Inc will post 1.84 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. grew its stake in 58.com by 230.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,531 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 1,068 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of 58.com during the second quarter valued at approximately $205,000. Hikari Power Ltd purchased a new position in shares of 58.com during the second quarter valued at approximately $225,000. Atria Investments LLC purchased a new position in shares of 58.com during the second quarter valued at approximately $232,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of 58.com by 59.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,410 shares of the information services provider’s stock valued at $236,000 after buying an additional 1,267 shares during the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.
58.com Company Profile (NYSE:WUBA)
58.com Inc operates online classifieds and 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; and Anjuke, an online real estate listing platform.
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