According to Zacks, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China. “
WUBA has been the subject of several other reports. Credit Suisse Group cut 58.com from an outperform rating to a neutral rating and set a $57.23 price target for the company. in a research report on Tuesday, July 16th. ValuEngine cut 58.com from a buy rating to a hold rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $62.06.
58.com (NYSE:WUBA) last announced its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. The company had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $434.43 million. 58.com had a return on equity of 11.48% and a net margin of 18.44%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, research analysts forecast that 58.com will post 2.51 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of WUBA. Daiwa Securities Group Inc. purchased a new position in 58.com during the second quarter worth about $58,000. Quadrant Capital Group LLC lifted its stake in 58.com by 61.1% during the first quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock worth $124,000 after purchasing an additional 729 shares during the last quarter. Pictet & Cie Europe SA bought a new stake in 58.com during the first quarter worth about $263,000. Highstreet Asset Management Inc. bought a new stake in 58.com during the first quarter worth about $372,000. Finally, NN Investment Partners Holdings N.V. lifted its stake in 58.com by 77.8% during the second quarter. NN Investment Partners Holdings N.V. now owns 6,400 shares of the information services provider’s stock worth $398,000 after purchasing an additional 2,800 shares during the last quarter. 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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