58.com (WUBA) Shares Down 7%

58.com Inc (NYSE:WUBA) shares fell 7% on Friday . The stock traded as low as $59.75 and last traded at $60.50. 1,270,913 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 1,116,751 shares. The stock had previously closed at $65.06.

Several research firms have commented on WUBA. ValuEngine lowered 58.com from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. TheStreet raised 58.com from a “c” rating to a “b-” rating in a research report on Friday, August 17th. Zacks Investment Research lowered 58.com from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, CLSA reissued a “buy” rating on shares of 58.com in a research report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $89.67.

The stock has a market cap of $9.74 billion, a P/E ratio of 45.49 and a beta of 1.93.

58.com (NYSE:WUBA) last released its quarterly earnings data on Wednesday, August 15th. The information services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. 58.com had a return on equity of 8.07% and a net margin of 14.21%. The company had revenue of $518.47 million for the quarter, compared to analyst estimates of $485.03 million. During the same period last year, the company posted $0.66 earnings per share. The firm’s revenue was up 35.4% compared to the same quarter last year. On average, analysts forecast that 58.com Inc will post 1.84 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of 58.com by 5.8% during the third quarter. SG Americas Securities LLC now owns 15,657 shares of the information services provider’s stock worth $1,152,000 after acquiring an additional 852 shares during the last quarter. Raymond James & Associates increased its position in shares of 58.com by 2.1% during the second quarter. Raymond James & Associates now owns 48,381 shares of the information services provider’s stock worth $3,355,000 after acquiring an additional 973 shares during the last quarter. Aviva PLC increased its position in shares of 58.com by 4.5% during the second quarter. Aviva PLC now owns 23,300 shares of the information services provider’s stock worth $1,616,000 after acquiring an additional 1,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of 58.com by 230.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,531 shares of the information services provider’s stock worth $122,000 after acquiring an additional 1,068 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its position in shares of 58.com by 2.3% during the third quarter. Malaga Cove Capital LLC now owns 47,719 shares of the information services provider’s stock worth $3,499,000 after acquiring an additional 1,079 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

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58.com Company Profile (NYSE:WUBA)

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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