58.com (NYSE:WUBA) Rating Lowered to Hold at ValuEngine

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

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

Shares of 58.com stock opened at $53.50 on Monday. The company has a market capitalization of $7.67 billion, a PE ratio of 27.58, a P/E/G ratio of 0.93 and a beta of 1.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $58.03. 58.com has a 12-month low of $49.93 and a 12-month high of $77.60.

58.com (NYSE:WUBA) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.12. 58.com had a return on equity of 11.48% and a net margin of 18.44%. The firm had revenue of $438.30 million during the quarter, compared to analysts’ expectations of $434.43 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The company’s revenue was up 11.5% on a year-over-year basis. Analysts expect that 58.com will post 2.54 EPS for the current year.

Several hedge funds have recently modified their holdings of WUBA. Investec Asset Management LTD lifted its holdings in shares of 58.com by 57.1% during the first quarter. Investec Asset Management LTD now owns 2,696,505 shares of the information services provider’s stock worth $177,106,000 after buying an additional 979,705 shares during the last quarter. Marshall Wace LLP raised its stake in shares of 58.com by 407.1% in the first quarter. Marshall Wace LLP now owns 870,838 shares of the information services provider’s stock valued at $57,197,000 after purchasing an additional 699,099 shares in the last quarter. FMR LLC raised its stake in shares of 58.com by 735.6% in 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. KEYWISE CAPITAL MANAGEMENT Ltd raised its stake in shares of 58.com by 1,299.1% in the second quarter. KEYWISE CAPITAL MANAGEMENT Ltd now owns 447,700 shares of the information services provider’s stock valued at $27,834,000 after purchasing an additional 415,700 shares in the last quarter. Finally, Marshall Wace North America L.P. raised its stake in shares of 58.com by 315.6% in the first quarter. Marshall Wace North America L.P. now owns 371,944 shares of the information services provider’s stock valued at $24,429,000 after purchasing an additional 282,451 shares in the last quarter. Institutional investors 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.

Featured Article: What is a CD ladder?

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.