58.com Inc. (WUBA) Upgraded to B- at TheStreet

TheStreet upgraded shares of 58.com Inc. (NYSE:WUBA) from a c+ rating to a b- rating in a research note published on Friday morning.

Several other analysts also recently commented on WUBA. Citigroup Inc. assumed coverage on shares of 58.com in a report on Tuesday, August 8th. They issued a buy rating and a $62.00 target price for the company. BidaskClub upgraded shares of 58.com from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of 58.com from a hold rating to a strong-buy rating and set a $77.00 price target for the company in a research report on Tuesday, September 19th. ValuEngine upgraded shares of 58.com from a sell rating to a hold rating in a research report on Thursday, July 13th. Finally, upgraded shares of 58.com from a hold rating to a buy rating and increased their price target for the company from $45.00 to $69.00 in a research report on Tuesday, August 22nd. 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 stock currently has a consensus rating of Hold and an average price target of $55.10.

58.com (WUBA) traded up $4.14 during trading hours on Friday, hitting $73.00. 4,529,600 shares of the stock were exchanged, compared to its average volume of 1,323,162. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.95. 58.com has a 12 month low of $27.58 and a 12 month high of $74.77. The company has a market cap of $10,024.23, a price-to-earnings ratio of 405.06 and a beta of 2.15.

58.com (NYSE:WUBA) last released its quarterly earnings data on Monday, August 21st. The information services provider reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.42. 58.com had a net margin of 2.14% and a return on equity of 1.04%. The firm had revenue of $382.81 million for the quarter. equities analysts expect that 58.com will post 0.69 EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in WUBA. Wells Fargo & Company MN raised its stake in shares of 58.com by 0.7% during the second quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock worth $656,000 after acquiring an additional 100 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of 58.com by 0.4% during the second quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock worth $2,315,000 after acquiring an additional 188 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of 58.com by 6.7% during the second quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock worth $319,000 after acquiring an additional 453 shares in the last quarter. Aviva PLC raised its stake in shares of 58.com by 3.4% during the second quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock worth $675,000 after acquiring an additional 500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of 58.com by 11.2% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,950 shares of the information services provider’s stock worth $565,000 after acquiring an additional 900 shares in the last quarter. 61.94% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for 58.com (NYSE:WUBA)

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