58.com Inc (ADR) (WUBA) is Initiated by Macquarie to Outperform, Price Target at $71

58.com Inc (ADR) (WUBA) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $71. Macquarie advised their investors in a research report released on Jul 8, 2016.

Many Wall Street Analysts have commented on 58.com Inc (ADR). Brean Capital Initiated 58.com Inc (ADR) on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $65.

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) opened for trading at $47 and hit $47.67 on the upside on Tuesday, eventually ending the session at $47.52, with a gain of 1.11% or 0.52 points. The heightened volatility saw the trading volume jump to 8,74,127 shares. Company has a market cap of $6,730 M.

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.

58.com Inc (ADR)

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