T.H. Capital started coverage on shares of 58.com Inc (NYSE:WUBA) in a research note released on Wednesday, May 10th. The firm issued a buy rating and a $48.00 price target on the information services provider’s stock.
A number of other research firms also recently issued reports on WUBA. Brean Capital reiterated a hold rating on shares of 58.com in a research note on Tuesday, January 24th. Zacks Investment Research upgraded shares of 58.com from a sell rating to a hold rating in a research note on Friday, February 10th. Sanford C. Bernstein began coverage on shares of 58.com in a research note on Wednesday, January 11th. They issued an underperform rating for the company. Haitong Bank downgraded shares of 58.com from a neutral rating to a sell rating and reduced their target price for the stock from $31.00 to $30.00 in a research note on Tuesday, March 14th. Finally, Benchmark Co. started coverage on shares of 58.com in a research report on Tuesday, April 18th. They issued a hold rating for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. 58.com currently has an average rating of Hold and an average price target of $46.63.
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A number of institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in 58.com during the third quarter valued at about $119,000. Quantbot Technologies LP bought a new position in 58.com during the first quarter valued at about $155,000. Profund Advisors LLC bought a new position in 58.com during the first quarter valued at about $214,000. Teacher Retirement System of Texas bought a new position in 58.com during the first quarter valued at about $240,000. Finally, World Asset Management Inc acquired a new stake in shares of 58.com during the first quarter valued at $255,000. Institutional investors own 55.74% of the company’s stock.
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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