58.com (WUBA) Lowered to Hold at ValuEngine

58.com (NYSE:WUBA) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Saturday.

WUBA has been the subject of a number of other research reports. Zacks Investment Research upgraded 58.com from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 31st. TheStreet upgraded 58.com from a “c” rating to a “b-” rating in a research note on Friday, August 17th. Finally, CLSA reiterated a “buy” rating on shares of 58.com in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. 58.com currently has an average rating of “Hold” and an average price target of $89.67.

NYSE:WUBA opened at $60.50 on Friday. The firm has a market capitalization of $9.74 billion, a PE ratio of 45.49 and a beta of 1.93. 58.com has a one year low of $56.70 and a one year high of $89.90.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Wednesday, August 15th. The information services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $518.47 million during the quarter, compared to analyst estimates of $485.03 million. 58.com had a return on equity of 8.07% and a net margin of 14.21%. 58.com’s revenue was up 35.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. As a group, research analysts anticipate that 58.com will post 1.84 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Genesis Asset Managers LLP boosted its holdings in shares of 58.com by 11.7% during the 3rd quarter. Genesis Asset Managers LLP now owns 7,684,938 shares of the information services provider’s stock valued at $565,611,000 after purchasing an additional 806,641 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of 58.com by 9.5% during the 3rd quarter. BlackRock Inc. now owns 4,893,608 shares of the information services provider’s stock valued at $360,167,000 after purchasing an additional 426,103 shares during the last quarter. Coronation Fund Managers Ltd. boosted its holdings in shares of 58.com by 59.8% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,135,609 shares of the information services provider’s stock valued at $230,781,000 after purchasing an additional 1,173,951 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of 58.com during the 2nd quarter valued at about $181,353,000. Finally, Marshall Wace LLP boosted its holdings in shares of 58.com by 99.7% during the 2nd quarter. Marshall Wace LLP now owns 1,058,141 shares of the information services provider’s stock valued at $73,371,000 after purchasing an additional 528,249 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

58.com Company Profile

58.com Inc operates online classifieds and 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; and Anjuke, an online real estate listing platform.

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