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

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

WUBA has been the topic of several other research reports. Zacks Investment Research lowered 58.com from a strong-buy rating to a sell rating in a report on Tuesday, October 24th. BidaskClub lowered 58.com from a strong-buy rating to a buy rating in a report on Thursday, October 26th. 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. 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, ValuEngine raised 58.com from a sell rating to a hold rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $55.10.

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

58.com (NYSE:WUBA) last released its earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.42. The firm had revenue of $382.81 million for the quarter. 58.com had a return on equity of 1.04% and a net margin of 2.14%. equities research 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 modified their holdings of the business. Wells Fargo & Company MN raised its position in 58.com by 0.7% in the 2nd quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock valued at $656,000 after purchasing an additional 100 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in 58.com by 0.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock valued at $2,315,000 after purchasing an additional 188 shares during the last quarter. Teacher Retirement System of Texas raised its position in 58.com by 6.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 453 shares during the last quarter. Aviva PLC raised its position in 58.com by 3.4% in the 2nd quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock valued at $675,000 after purchasing an additional 500 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in 58.com by 11.2% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,950 shares of the information services provider’s stock valued at $565,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 61.94% of the company’s stock.

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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