Zacks Investment Research downgraded shares of 58.com Inc. (NYSE:WUBA) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

According to Zacks, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China. “

Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of 58.com from a hold rating to a buy rating in a research note on Wednesday, June 28th. TH Capital initiated coverage on shares of 58.com in a research note on Wednesday, May 10th. They set a buy rating and a $48.00 price target for the company. T.H. Capital initiated coverage on shares of 58.com in a research note on Wednesday, May 10th. They set a buy rating and a $48.00 price target for the company. TheStreet upgraded shares of 58.com from a d+ rating to a c rating in a research note on Thursday, May 11th. Finally, Morgan Stanley reiterated an equal weight rating and set a $42.00 price target on shares of 58.com in a research note on Sunday, May 28th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. 58.com currently has an average rating of Hold and an average price target of $44.30.

58.com (WUBA) opened at 51.43 on Wednesday. The company’s 50 day moving average is $45.96 and its 200 day moving average is $38.99. 58.com has a one year low of $27.58 and a one year high of $55.28. The stock’s market cap is $7.47 billion.

58.com (NYSE:WUBA) last issued its quarterly earnings results on Thursday, May 25th. The information services provider reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.27. The firm had revenue of $288.19 million during the quarter. 58.com had a negative net margin of 3.18% and a negative return on equity of 1.57%. On average, equities research analysts expect that 58.com will post $0.85 EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in WUBA. General Atlantic LLC boosted its stake in 58.com by 86.9% in the first quarter. General Atlantic LLC now owns 5,840,000 shares of the information services provider’s stock valued at $206,678,000 after buying an additional 2,715,000 shares during the period. Dimensional Fund Advisors LP purchased a new stake in 58.com during the fourth quarter valued at approximately $7,526,000. Russell Investments Group Ltd. purchased a new stake in 58.com during the fourth quarter valued at approximately $320,000. Global Thematic Partners LLC boosted its stake in 58.com by 78.6% in the first quarter. Global Thematic Partners LLC now owns 737,556 shares of the information services provider’s stock valued at $26,103,000 after buying an additional 324,633 shares during the period. Finally, Jane Street Group LLC boosted its stake in 58.com by 71.0% in the first quarter. Jane Street Group LLC now owns 14,237 shares of the information services provider’s stock valued at $504,000 after buying an additional 5,911 shares during the period. Institutional investors own 64.88% of the company’s stock.

About 58.com

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.

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Analyst Recommendations for 58.com (NYSE:WUBA)

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