58.com (WUBA) Receives ‘Analyst’ Rating

58.com (WUBA) : Zacks Investment Research ranks 58.com (WUBA) as 4, which is a Sell recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 5 research analysts is 1.5, which indicates as a Strong Buy.

58.com (WUBA) : 4 Wall Street analysts covering 58.com (WUBA) believe that the average level the stock could reach for the short term is $61.75. The maximum price target given is $71 and the minimum target for short term is around $57, hence the standard deviation is calculated at $6.29.


Also, Equity Analysts at the Brokerage Firm, CLSA, upgrades their rating on the shares of 58.com (NYSE:WUBA). CLSA has a Buy rating on the shares. Previously, the analysts had a Sell rating on the shares. The rating by the firm was issued on August 8, 2016.

58.com (NYSE:WUBA): The stock opened in the green at $45.14 on Thursday, but the bulls found it difficult to push the prices higher. The stock reached a high of $45.14 and a low of $43.98 for the day. The stock did not find buyers even at the lows and closed at $44.16 recording a loss of -1.87%. 2,538,456 shares exchanged hands during the trading day. The stock had closed at $45 in the previous days trading.

58.com Inc. (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Companys online marketplace enables local merchants and consumers to connect, share information and conduct business. The Companys 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 Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.