58.com Inc (ADR) (WUBA) was Initiated by Brean Capital to “Buy” and the brokerage firm has set the Price Target at $65. Brean Capital advised their investors in a research report released on Jun 3, 2016.
On the company’s financial health, 58.com Inc (ADR) reported $-0.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.46 according to the earnings call on Nov 30, 2015. Analyst had a consensus of $-0.96. The company had revenue of $212.90 million for the quarter, compared to analysts expectations of $242.12 million. The company’s revenue was up 195.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.
58.com Inc (ADR) closed down -1.95 points or -3.61% at $52.1 with 24,21,357 shares getting traded on Wednesday. Post opening the session at $53.73, the shares hit an intraday low of $51.72 and an intraday high of $54.14 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
58.com Inc. (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities across the content categories including housing jobs used goods automotive pets tickets yellow pages and other local services. The Company conducts automatic and manual screening using its technology and processes. The Company’s users post listings on its marketplace covering a range of services and products on its Website www.58.com. The Company organizes the listings on its marketplace by content categories such as jobs housing used goods automotive yellow pages pets and tickets.