58.com Inc. (WUBA) Reaches New 1-Year High at $73.19

58.com Inc. (NYSE:WUBA) reached a new 52-week high during trading on Monday . The company traded as high as $73.19 and last traded at $68.86, with a volume of 1247500 shares. The stock had previously closed at $67.11.

A number of equities research analysts recently commented on WUBA shares. Zacks Investment Research cut shares of 58.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 16th. Deutsche Bank AG raised shares of 58.com from a “hold” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $70.00 in a report on Tuesday, August 22nd. raised shares of 58.com from a “hold” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $69.00 in a report on Tuesday, August 22nd. BidaskClub cut shares of 58.com from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 26th. Finally, Citigroup Inc. raised shares of 58.com from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $68.00 in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $55.10.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $10,024.23, a price-to-earnings ratio of 405.06 and a beta of 2.15.

58.com (NYSE:WUBA) last issued its earnings results on Monday, August 21st. The information services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.42. The business had revenue of $382.81 million for the quarter. 58.com had a net margin of 2.14% and a return on equity of 1.04%. equities research analysts expect that 58.com Inc. will post 0.69 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of 58.com by 0.7% during the 2nd quarter. Wells Fargo & Company MN now owns 14,881 shares of the information services provider’s stock valued at $656,000 after purchasing an additional 100 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of 58.com by 0.4% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 52,492 shares of the information services provider’s stock valued at $2,315,000 after purchasing an additional 188 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of 58.com by 6.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 7,225 shares of the information services provider’s stock valued at $319,000 after purchasing an additional 453 shares in the last quarter. Aviva PLC grew its position in shares of 58.com by 3.4% during the 2nd quarter. Aviva PLC now owns 15,300 shares of the information services provider’s stock valued at $675,000 after purchasing an additional 500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of 58.com by 11.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,950 shares of the information services provider’s stock valued at $565,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 61.94% of the company’s stock.

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58.com Company Profile

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.

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