58.com (NYSE:WUBA) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of 58.com (NYSE:WUBA) from a buy rating to a hold rating in a research report report published on Monday morning, ValuEngine reports.

WUBA has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of 58.com in a research report on Monday, August 5th. They set a buy rating and a $66.40 price target on the stock. Zacks Investment Research lowered shares of 58.com from a strong-buy rating to a hold rating in a research report on Saturday, August 3rd. Finally, Credit Suisse Group lowered shares of 58.com from an outperform rating to a neutral rating and set a $57.23 price target on the stock. in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $62.93.

WUBA opened at $51.54 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day simple moving average of $58.23. 58.com has a 1-year low of $49.93 and a 1-year high of $77.60. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62.

58.com (NYSE:WUBA) last released its earnings results on Tuesday, May 28th. The information services provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.12. The business 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 business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, sell-side analysts forecast that 58.com will post 2.54 EPS for the current year.

Several large investors have recently bought and sold shares of WUBA. Daiwa Securities Group Inc. acquired a new position in shares of 58.com during the second quarter worth $58,000. Quadrant Capital Group LLC raised its holdings 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 in the last quarter. Banque Pictet & Cie SA purchased a new position in 58.com during the second quarter worth about $260,000. Pictet & Cie Europe SA purchased a new position in 58.com during the first quarter worth about $263,000. Finally, Highstreet Asset Management Inc. purchased a new position in 58.com during the first quarter worth about $372,000. Institutional investors and hedge funds own 57.79% 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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