BOCOM International Lowers 58.com (NYSE:WUBA) to Neutral

BOCOM International lowered shares of 58.com (NYSE:WUBA) from a buy rating to a neutral rating in a research report sent to investors on Friday, August 23rd, The Fly reports.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group began coverage on shares of 58.com in a research note on Monday, August 5th. They set a buy rating and a $66.40 target price on the stock. Zacks Investment Research lowered 58.com from a strong-buy rating to a hold rating in a report on Saturday, August 3rd. ValuEngine cut 58.com from a buy rating to a hold rating in a research report on Monday, August 12th. Finally, Credit Suisse Group downgraded shares of 58.com from an outperform rating to a neutral rating and set a $57.23 target price on the stock. in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $62.93.

58.com stock opened at $55.17 on Friday. The company’s 50 day moving average is $54.19 and its two-hundred day moving average is $61.22. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.01. 58.com has a 52-week low of $49.93 and a 52-week high of $77.13. The firm has a market cap of $7.96 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 0.44 and a beta of 1.72.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Genesis Asset Managers LLP raised its stake in 58.com by 1.6% in the 2nd quarter. Genesis Asset Managers LLP now owns 7,971,754 shares of the information services provider’s stock valued at $495,604,000 after purchasing an additional 122,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 58.com by 40.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,487,953 shares of the information services provider’s stock valued at $465,526,000 after buying an additional 2,173,736 shares during the period. BlackRock Inc. boosted its position in 58.com by 3.6% during the first quarter. BlackRock Inc. now owns 5,318,178 shares of the information services provider’s stock worth $349,299,000 after acquiring an additional 184,374 shares during the last quarter. Vanguard Group Inc. boosted its position in 58.com by 1.4% during the second quarter. Vanguard Group Inc. now owns 3,533,666 shares of the information services provider’s stock worth $219,688,000 after acquiring an additional 49,355 shares during the last quarter. Finally, Hillhouse Capital Advisors LTD. purchased a new stake in 58.com in the 2nd quarter worth approximately $146,767,000. 58.75% of the stock is owned by hedge funds and other institutional investors.

About 58.com

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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