58.com (NYSE:WUBA) Stock Price Up 5.1%
58.com Inc (NYSE:WUBA)’s share price rose 5.1% on Wednesday . The company traded as high as $58.08 and last traded at $57.97, approximately 1,270,431 shares were traded during trading. An increase of 47% from the average daily volume of 864,132 shares. The stock had previously closed at $55.17.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded 58.com from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 3rd. Credit Suisse Group cut 58.com from an “outperform” rating to a “neutral” rating and set a $57.23 price objective on the stock. in a research note on Tuesday, July 16th. BOCOM International cut 58.com from a “buy” rating to a “neutral” rating in a research note on Friday, August 23rd. Jefferies Financial Group initiated coverage on 58.com in a research report on Monday, August 5th. They issued a “buy” rating and a $66.40 target price for the company. Finally, ValuEngine lowered 58.com from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.93.
The business’s 50 day moving average price is $54.19 and its 200-day moving average price is $61.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.01. The company has a market cap of $8.06 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 0.45 and a beta of 1.72.
About 58.com (NYSE:WUBA)
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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