58.com Inc. (WUBA) Hits New 1-Year High at $73.19

58.com Inc. (NYSE:WUBA) hit a new 52-week high on Monday . The stock traded as high as $73.19 and last traded at $68.86, with a volume of 1247500 shares. The stock had previously closed at $67.11.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Citigroup Inc. raised 58.com from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $68.00 in a report on Wednesday, August 23rd. Deutsche Bank AG raised 58.com from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $70.00 in a report on Tuesday, August 22nd. HSBC Holdings plc raised 58.com from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $69.00 in a report on Tuesday, August 22nd. Finally, BidaskClub lowered 58.com from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.10.

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $10,770.00, a P/E ratio of 405.06 and a beta of 2.15.

58.com (NYSE:WUBA) last issued its earnings results on Monday, August 21st. The information services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.12 by $0.42. 58.com had a return on equity of 1.04% and a net margin of 2.14%. The business had revenue of $382.81 million during the quarter. equities research analysts predict that 58.com Inc. will post 0.69 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of 58.com by 10.9% during the 2nd quarter. Northern Trust Corp now owns 533,186 shares of the information services provider’s stock valued at $23,518,000 after acquiring an additional 52,310 shares during the last quarter. General Atlantic LLC boosted its position in shares of 58.com by 22.4% during the 2nd quarter. General Atlantic LLC now owns 7,150,000 shares of the information services provider’s stock valued at $315,387,000 after acquiring an additional 1,310,000 shares during the last quarter. FMR LLC boosted its position in shares of 58.com by 0.4% during the 2nd quarter. FMR LLC now owns 12,096,506 shares of the information services provider’s stock valued at $533,576,000 after acquiring an additional 49,970 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of 58.com by 78.4% during the 2nd quarter. Franklin Resources Inc. now owns 2,704,340 shares of the information services provider’s stock valued at $119,289,000 after acquiring an additional 1,188,300 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of 58.com by 7.3% during the 2nd quarter. BlackRock Inc. now owns 4,299,458 shares of the information services provider’s stock valued at $189,648,000 after acquiring an additional 291,891 shares during the last quarter. Hedge funds and other institutional investors own 61.94% of the company’s stock.

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About 58.com

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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