58.com (WUBA) Announces Quarterly Earnings Results

58.com (NYSE:WUBA) released its quarterly earnings data on Tuesday. The information services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.12, Fidelity Earnings reports. 58.com had a net margin of 15.11% and a return on equity of 9.30%. The firm had revenue of $438.30 million for the quarter, compared to the consensus estimate of $434.43 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis.

Shares of WUBA stock opened at $54.71 on Wednesday. The stock has a market capitalization of $7.99 billion, a PE ratio of 28.20, a PEG ratio of 0.80 and a beta of 1.60. 58.com has a one year low of $50.30 and a one year high of $84.78.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of 58.com from a “strong sell” rating to a “hold” rating in a report on Saturday, May 4th. Deutsche Bank assumed coverage on shares of 58.com in a report on Wednesday, March 27th. They set a “hold” rating on the stock. Macquarie downgraded shares of 58.com from an “outperform” rating to a “neutral” rating in a report on Friday, March 1st. Credit Suisse Group set a $84.00 target price on shares of 58.com and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Benchmark reiterated a “buy” rating and issued a $83.00 target price (down previously from $85.00) on shares of 58.com in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $69.00.

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58.com Company Profile

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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Earnings History for 58.com (NYSE:WUBA)

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