ValuEngine cut shares of 58.com (NYSE:WUBA) from a buy rating to a hold rating in a research report released on Monday morning, ValuEngine reports.

WUBA has been the subject of several other reports. Zacks Investment Research downgraded 58.com from a strong-buy rating to a hold rating in a research note on Saturday, August 3rd. Credit Suisse Group downgraded 58.com from an outperform rating to a neutral rating and set a $57.23 target price for the company. in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group started coverage on 58.com in a research note on Monday, August 5th. They issued a buy rating and a $66.40 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. 58.com currently has a consensus rating of Hold and a consensus price target of $62.93.

WUBA stock opened at $51.90 on Monday. The stock has a 50-day simple moving average of $57.81. 58.com has a 1-year low of $49.93 and a 1-year high of $77.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 0.93 and a beta of 1.62.

58.com (NYSE:WUBA) last posted its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.12. The firm had revenue of $438.30 million during the quarter, compared to analyst estimates of $434.43 million. 58.com had a return on equity of 11.48% and a net margin of 18.44%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. On average, equities analysts forecast that 58.com will post 2.54 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in WUBA. Genesis Asset Managers LLP boosted its stake in shares of 58.com by 1.6% in the 2nd quarter. Genesis Asset Managers LLP now owns 7,971,754 shares of the information services provider’s stock worth $495,604,000 after buying an additional 122,911 shares during the last quarter. BlackRock Inc. boosted its stake in shares of 58.com by 3.6% in the 1st quarter. BlackRock Inc. now owns 5,318,178 shares of the information services provider’s stock worth $349,299,000 after buying an additional 184,374 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of 58.com by 3.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 4,321,958 shares of the information services provider’s stock worth $283,866,000 after buying an additional 133,319 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 58.com by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 3,533,666 shares of the information services provider’s stock worth $219,688,000 after buying an additional 49,355 shares during the last quarter. Finally, Investec Asset Management LTD boosted its stake in shares of 58.com by 57.1% in the 1st quarter. Investec Asset Management LTD now owns 2,696,505 shares of the information services provider’s stock worth $177,106,000 after buying an additional 979,705 shares during the last quarter. Institutional investors and hedge funds own 57.79% of the company’s stock.

About 58.com

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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