ValuEngine Lowers 58.com (NYSE:WUBA) to Strong Sell

ValuEngine lowered shares of 58.com (NYSE:WUBA) from a sell rating to a strong sell rating in a research report report published on Wednesday, September 4th, ValuEngine reports.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group assumed coverage on 58.com in a research report on Monday, August 5th. They set a buy rating and a $66.40 target price for the company. Credit Suisse Group downgraded 58.com from an outperform rating to a neutral rating and set a $57.23 price target for the company. in a research note on Tuesday, July 16th. Zacks Investment Research lowered shares of 58.com from a strong-buy rating to a hold rating in a report on Saturday, August 3rd. Finally, BOCOM International downgraded shares of 58.com from a buy rating to a neutral rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. 58.com currently has an average rating of Hold and a consensus target price of $62.93.

Shares of WUBA stock opened at $55.17 on Wednesday. The stock has a fifty day simple moving average of $54.19 and a two-hundred day simple moving average of $61.22. 58.com has a 52-week low of $49.93 and a 52-week high of $77.13. The firm has a market capitalization of $7.96 billion, a PE ratio of 28.44, a PEG ratio of 0.44 and a beta of 1.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.41 and a current ratio of 1.41.

Several hedge funds have recently modified their holdings of WUBA. Hillhouse Capital Advisors LTD. bought a new position in 58.com during the second quarter valued at approximately $146,767,000. Price T Rowe Associates Inc. MD increased its position in 58.com by 40.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 7,487,953 shares of the information services provider’s stock worth $465,526,000 after purchasing an additional 2,173,736 shares during the last quarter. Marshall Wace LLP increased its position in 58.com by 407.1% in the first quarter. Marshall Wace LLP now owns 870,838 shares of the information services provider’s stock worth $57,197,000 after purchasing an additional 699,099 shares during the last quarter. Man Group plc increased its position in 58.com by 388.2% in the second quarter. Man Group plc now owns 758,404 shares of the information services provider’s stock worth $47,150,000 after purchasing an additional 603,045 shares during the last quarter. Finally, FMR LLC raised its stake in 58.com by 735.6% during the first quarter. FMR LLC now owns 533,106 shares of the information services provider’s stock valued at $35,014,000 after purchasing an additional 469,306 shares in the last quarter. 58.75% of the stock is currently 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.

See Also: What is the return on assets formula?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for 58.com (NYSE:WUBA)

Receive News & Ratings for 58.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 58.com and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News