58.com Inc (NYSE:WUBA) has earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $77.25.
A number of research firms have recently commented on WUBA. Zacks Investment Research upgraded 58.com from a “sell” rating to a “hold” rating in a research note on Thursday, December 13th. ValuEngine cut 58.com from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. Morgan Stanley cut 58.com to a “sell” rating and set a $40.00 target price on the stock. in a research note on Thursday, December 20th. Finally, Benchmark lowered their target price on 58.com from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, November 16th.
Shares of NYSE WUBA traded down $0.17 during mid-day trading on Monday, reaching $73.55. 4,552 shares of the company’s stock were exchanged, compared to its average volume of 611,876. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 0.80 and a beta of 1.69. 58.com has a 52 week low of $50.30 and a 52 week high of $89.90.
Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in 58.com by 433.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,194 shares of the information services provider’s stock valued at $64,000 after acquiring an additional 970 shares during the period. American International Group Inc. bought a new stake in 58.com in the 3rd quarter valued at about $118,000. Quantbot Technologies LP bought a new stake in 58.com in the 3rd quarter valued at about $153,000. Redpoint Investment Management Pty Ltd purchased a new position in 58.com during the 3rd quarter valued at about $207,000. Finally, Stone Ridge Asset Management LLC purchased a new position in 58.com during the 4th quarter valued at about $210,000. Institutional investors and hedge funds own 62.08% of the company’s stock.
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.
Recommended Story: Dollar Cost Averaging
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.