Other analysts have also recently issued reports about the company. Zacks Investment Research cut 58.com from a strong-buy rating to a hold rating in a research report on Saturday, August 3rd. Credit Suisse Group cut 58.com from an outperform rating to a neutral rating and set a $57.23 price objective on the stock. in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group began coverage on 58.com in a research report on Monday, August 5th. They set a buy rating and a $66.40 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued 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 $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. The business’s 50 day moving average is $57.58 and its two-hundred day moving average is $62.86. The company has a market cap of $7.55 billion, a P/E ratio of 26.70, a P/E/G ratio of 0.92 and a beta of 1.62. 58.com has a 12 month low of $49.93 and a 12 month high of $77.60.
58.com (NYSE:WUBA) last released its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.12. The business had revenue of $438.30 million for the quarter, compared to analysts’ expectations of $434.43 million. 58.com had a return on equity of 11.48% and a net margin of 18.44%. 58.com’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Sell-side analysts expect that 58.com will post 2.54 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new stake in 58.com in the second quarter valued at $8,225,000. Price T Rowe Associates Inc. MD grew its position in 58.com by 40.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,487,953 shares of the information services provider’s stock valued at $465,526,000 after acquiring an additional 2,173,736 shares during the period. Hillhouse Capital Advisors LTD. bought a new stake in 58.com in the second quarter valued at $146,767,000. Cubist Systematic Strategies LLC bought a new stake in 58.com in the second quarter valued at $325,000. Finally, Dragoneer Investment Group LLC grew its position in 58.com by 24.6% in the second quarter. Dragoneer Investment Group LLC now owns 1,662,945 shares of the information services provider’s stock valued at $103,385,000 after acquiring an additional 328,751 shares during the period. Institutional investors and hedge funds own 57.79% of the company’s stock.
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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