ValuEngine Lowers 58.com (NYSE:WUBA) to Sell

ValuEngine lowered shares of 58.com (NYSE:WUBA) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of 58.com from a strong-buy rating to a hold rating in a research report on Saturday, August 3rd. Jefferies Financial Group assumed coverage on shares of 58.com in a research report on Monday, August 5th. They set a buy rating and a $66.40 price objective for the company. BOCOM International lowered shares of 58.com from a buy rating to a neutral rating in a research report on Friday, August 23rd. Finally, Credit Suisse Group lowered shares of 58.com from an outperform rating to a neutral rating and set a $57.23 price objective for the company. in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. 58.com presently has an average rating of Hold and a consensus target price of $62.93.

Shares of NYSE:WUBA opened at $49.70 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a fifty day moving average price of $52.56 and a 200 day moving average price of $59.40. 58.com has a fifty-two week low of $47.19 and a fifty-two week high of $74.17. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 0.40 and a beta of 1.68.

58.com (NYSE:WUBA) last issued its earnings results on Wednesday, August 21st. The information services provider reported $4.04 earnings per share for the quarter. 58.com had a net margin of 41.67% and a return on equity of 25.35%. The firm had revenue of $601.44 million during the quarter. As a group, research analysts predict that 58.com will post 5.84 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. bought a new position in 58.com during the second quarter valued at $43,000. Daiwa Securities Group Inc. bought a new stake in shares of 58.com in the 2nd quarter worth about $58,000. Tower Research Capital LLC TRC bought a new stake in shares of 58.com in the 2nd quarter worth about $90,000. Ellington Management Group LLC bought a new stake in shares of 58.com in the 2nd quarter worth about $230,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of 58.com in the 2nd quarter worth about $260,000. Institutional investors and hedge funds own 57.96% 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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