58.com (WUBA) Shares are Down -3.66%

58.com (WUBA) has risen sharply, recording gains of 1.04% in the past 4 weeks. However, the stock has corrected -3.66% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.58% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 0.25% and the 50-Day Moving Average is 3.32%.The 200 Day SMA reached 9.62%


58.com (NYSE:WUBA): After opening at $47.91, the stock dipped to an intraday low of $47.55 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $48.43 and the buying power remained strong till the end. The stock closed at $47.66 for the day, a gain of 0.29% for the day session. The total traded volume was 592,106. The stocks close on the previous trading day was $47.66.

58.com (WUBA) stock is expected to deviate a maximum of $6.29 from the average target price of $61.75 for the short term period. 4 Street Experts have initiated coverage on the stock with the most promising target being $71 and the most muted being $57.

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.

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