58.com (NYSE:WUBA) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of 58.com (NYSE:WUBA) from a hold rating to a buy rating in a research note published on Tuesday, ValuEngine reports.

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.

58.com (NYSE:WUBA) last posted its quarterly earnings data 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 net margin of 18.44% and a return on equity of 11.48%. The company had revenue of $438.30 million during the quarter, compared to the consensus estimate of $434.43 million. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that 58.com will post 2.51 earnings per share for the current fiscal year.

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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Analyst Recommendations for 58.com (NYSE:WUBA)

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