58.com Inc (NYSE:WUBA) has been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $69.00.
A number of research analysts recently issued reports on WUBA shares. ValuEngine downgraded 58.com from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Macquarie downgraded 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, March 1st. Credit Suisse Group set a $84.00 price target on 58.com and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Benchmark restated a “buy” rating and issued a $83.00 price target (down from $85.00) on shares of 58.com in a research note on Monday, March 4th.
Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of 58.com by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 136,982 shares of the information services provider’s stock valued at $10,083,000 after buying an additional 3,791 shares during the last quarter. American International Group Inc. acquired a new stake in shares of 58.com in the third quarter valued at approximately $118,000. Panagora Asset Management Inc. lifted its position in shares of 58.com by 107.1% in the third quarter. Panagora Asset Management Inc. now owns 3,934 shares of the information services provider’s stock valued at $290,000 after buying an additional 2,034 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 58.com by 10.3% in the third quarter. Dimensional Fund Advisors LP now owns 328,725 shares of the information services provider’s stock valued at $24,220,000 after buying an additional 30,814 shares during the last quarter. Finally, Standard Life Aberdeen plc lifted its position in shares of 58.com by 5,147.6% in the third quarter. Standard Life Aberdeen plc now owns 4,211,183 shares of the information services provider’s stock valued at $309,943,000 after buying an additional 4,130,933 shares during the last quarter. Hedge funds and other institutional investors own 59.87% of the company’s stock.
58.com (NYSE:WUBA) last posted its quarterly earnings data on Friday, March 1st. The information services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.18. The business had revenue of $525.89 million during the quarter, compared to the consensus estimate of $519.09 million. 58.com had a return on equity of 9.30% and a net margin of 15.11%. 58.com’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, research analysts anticipate that 58.com will post 2.12 EPS for the current year.
58.com Company Profile
58.com Inc engages in the operation of online classifieds and listing platforms. Its businesses include include Zhuan Zhua, an online used good trading platform; 58 Home, an online home and moving services platform; Che Hao Duo, an online used and new car trading platform which contains Guazi, the used car platform; and Mao Dou, the new car platform.
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