A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of 58.com from a strong-buy rating to a hold rating in a report on Saturday, August 3rd. Jefferies Financial Group initiated coverage on shares of 58.com in a research note on Monday, August 5th. They issued a buy rating and a $66.40 price target for the company. Finally, Credit Suisse Group downgraded shares of 58.com from an outperform rating to a neutral rating and set a $57.23 price target for the company. in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. 58.com currently has a consensus rating of Hold and a consensus price target of $62.93.
NYSE WUBA opened at $52.34 on Tuesday. 58.com has a 52-week low of $49.93 and a 52-week high of $77.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $7.56 billion, a P/E ratio of 26.98, a P/E/G ratio of 0.93 and a beta of 1.62. The stock’s fifty day moving average is $58.94.
A number of institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. purchased a new position in shares of 58.com in the second quarter valued at about $58,000. Quadrant Capital Group LLC increased its position in shares of 58.com by 61.1% in the first quarter. Quadrant Capital Group LLC now owns 1,923 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 729 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of 58.com by 10.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 3,833 shares of the information services provider’s stock valued at $2,325,000 after acquiring an additional 375 shares during the period. Pictet & Cie Europe SA purchased a new position in shares of 58.com in the first quarter valued at about $263,000. Finally, Banque Pictet & Cie SA purchased a new position in shares of 58.com in the second quarter valued at about $260,000. 59.14% of the stock is owned by institutional investors and hedge funds.
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.
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