58.com (NYSE:WUBA) Stock Rating Lowered by ValuEngine

58.com (NYSE:WUBA) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

A number of other research analysts have also issued reports on WUBA. Credit Suisse Group lowered shares of 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 target price on the stock. in a report on Tuesday, July 16th. Zacks Investment Research upgraded shares of 58.com from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a report on Saturday, June 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $62.06.

NYSE:WUBA opened at $55.58 on Wednesday. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 28.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50-day moving average price of $60.18. 58.com has a 12-month low of $50.30 and a 12-month high of $77.60.

58.com (NYSE:WUBA) last released its earnings results on Tuesday, May 28th. The information services provider reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.12. The company had revenue of $438.30 million for the quarter, compared to analyst estimates of $434.43 million. 58.com had a net margin of 18.44% and a return on equity of 11.48%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities analysts predict that 58.com will post 2.51 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of 58.com by 3.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,741 shares of the information services provider’s stock worth $419,000 after acquiring an additional 196 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of 58.com by 10.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,833 shares of the information services provider’s stock worth $2,325,000 after acquiring an additional 375 shares during the period. Wetherby Asset Management Inc. lifted its holdings in shares of 58.com by 6.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 7,185 shares of the information services provider’s stock worth $472,000 after acquiring an additional 405 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of 58.com by 1.4% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 43,600 shares of the information services provider’s stock worth $2,864,000 after acquiring an additional 600 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of 58.com by 61.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock worth $124,000 after acquiring an additional 729 shares during the period. Institutional investors and hedge funds own 59.29% of the company’s stock.

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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Analyst Recommendations for 58.com (NYSE:WUBA)

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