58.com Inc was down 6.1% during trading recently. The stock traded as low as $60.50 and last traded at $61.58. Approximately 2,153,100 shares traded hands during trading, an increase of 147% from the average daily volume of 872,058 shares. The stock had previously closed at $65.57.
WUBA has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $83.00 target price (down previously from $85.00) on shares of 58.com in a report. Credit Suisse Group set a $84.00 target price on 58.com and gave the company a “buy” rating in a report. Macquarie downgraded 58.com from an “outperform” rating to a “neutral” rating in a report. Zacks Investment Research raised 58.com from a “sell” rating to a “hold” rating in a report. Finally, Deutsche Bank initiated coverage on 58.com in a report. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.00.
The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 0.90 and a beta of 1.60.
58.com last posted its earnings results in February. The information services provider reported $0.40 earnings per share for the quarter. 58.com had a return on equity of 9.30% and a net margin of 15.11%. The company had revenue of $525.89 million for the quarter, compared to the consensus estimate of $519.09 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. 58.com’s revenue was up 24.3% on a year-over-year basis. As a group, equities analysts forecast that 58.com Inc will post 2.12 EPS for the current year.
A number of hedge funds have recently bought and sold shares of WUBA. Bank of New York Mellon Corp raised its stake in shares of 58.com by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 136,982 shares of the information services provider’s stock worth $10,083,000 after buying an additional 3,791 shares during the period. Teachers Advisors LLC raised its stake in shares of 58.com by 4.3% in the third quarter. Teachers Advisors LLC now owns 45,587 shares of the information services provider’s stock worth $3,355,000 after buying an additional 1,900 shares during the period. Vanguard Group Inc. raised its stake in shares of 58.com by 2.5% in the third quarter. Vanguard Group Inc. now owns 3,297,862 shares of the information services provider’s stock worth $242,722,000 after buying an additional 81,497 shares during the period. Fox Run Management L.L.C. bought a new position in shares of 58.com in the fourth quarter worth about $239,000. Finally, Virtu Financial LLC bought a new position in shares of 58.com in the fourth quarter worth about $264,000. 60.44% of the stock is currently owned by institutional investors.