Brokerages Set 58.com Inc (WUBA) Target Price at $92.00
58.com Inc (NYSE:WUBA) has earned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $92.00.
WUBA has been the topic of a number of analyst reports. ValuEngine raised shares of 58.com from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. TheStreet raised shares of 58.com from a “c” rating to a “b-” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research raised shares of 58.com from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 31st.
Shares of WUBA traded down $4.42 during trading hours on Monday, reaching $68.10. 1,314,256 shares of the company traded hands, compared to its average volume of 1,669,925. The firm has a market capitalization of $10.62 billion, a P/E ratio of 51.20 and a beta of 1.95. 58.com has a 1-year low of $56.70 and a 1-year high of $89.90.
A number of hedge funds and other institutional investors have recently bought and sold shares of WUBA. Ladenburg Thalmann Financial Services Inc. increased its stake in 58.com by 230.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,531 shares of the information services provider’s stock valued at $122,000 after acquiring an additional 1,068 shares during the period. Atlas Capital Advisors LLC bought a new stake in 58.com in the second quarter valued at about $205,000. Hikari Power Ltd bought a new stake in 58.com in the second quarter valued at about $225,000. Atria Investments LLC bought a new stake in 58.com in the second quarter valued at about $232,000. Finally, Tower Research Capital LLC TRC grew its stake in 58.com by 59.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,410 shares of the information services provider’s stock worth $236,000 after buying an additional 1,267 shares during the last quarter. 59.08% of the stock is currently owned by institutional investors and hedge funds.
58.com Company Profile
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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