58.com (NYSE:WUBA) Stock Rating Lowered by ValuEngine

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ValuEngine lowered shares of 58.com (NYSE:WUBA) from a buy rating to a hold rating in a report issued on Monday, ValuEngine reports.

A number of other equities research analysts also recently commented on WUBA. Credit Suisse Group downgraded 58.com from an outperform rating to a neutral rating and set a $57.23 price objective for the company. in a report on Tuesday, July 16th. Zacks Investment Research downgraded 58.com from a strong-buy rating to a hold rating in a report on Saturday, August 3rd. Finally, Jefferies Financial Group started coverage on 58.com in a report on Monday, August 5th. They issued a buy rating and a $66.40 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $62.93.

Shares of WUBA opened at $51.79 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.01. 58.com has a 12-month low of $49.93 and a 12-month high of $77.60. The firm has a market capitalization of $7.55 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. The stock’s fifty day simple moving average is $57.58 and its 200-day simple moving average is $62.86.

58.com (NYSE:WUBA) last issued its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $438.30 million for the quarter, compared to analyst estimates of $434.43 million. 58.com had a return on equity of 11.48% and a net margin of 18.44%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Analysts anticipate that 58.com will post 2.54 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WUBA. Assetmark Inc. bought a new stake in 58.com in the second quarter valued at about $43,000. Daiwa Securities Group Inc. bought a new stake in shares of 58.com in the second quarter worth about $58,000. Tower Research Capital LLC TRC bought a new stake in shares of 58.com in the second quarter worth about $90,000. Quadrant Capital Group LLC increased its holdings in shares of 58.com by 61.1% in the first quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock worth $124,000 after acquiring an additional 729 shares in the last quarter. Finally, Ellington Management Group LLC bought a new stake in shares of 58.com in the second quarter worth about $230,000. Institutional investors and hedge funds own 57.79% of the company’s stock.

58.com Company Profile

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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