Shares of 58.com Inc (NYSE:WUBA) traded down 6% during mid-day trading on Monday . The company traded as low as $56.76 and last traded at $57.69. 1,733,074 shares traded hands during trading, an increase of 98% from the average session volume of 874,753 shares. The stock had previously closed at $61.37.

A number of analysts have recently issued reports on the company. Zacks Investment Research raised 58.com from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 4th. Benchmark reissued a “buy” rating and issued a $83.00 price objective (down from $85.00) on shares of 58.com in a report on Monday, March 4th. Macquarie lowered 58.com from an “outperform” rating to a “neutral” rating in a report on Friday, March 1st. Credit Suisse Group set a $84.00 price objective on 58.com and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Deutsche Bank initiated coverage on 58.com in a report on Wednesday, March 27th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.00.

The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 0.90 and a beta of 1.60.

58.com (NYSE:WUBA) last announced its quarterly earnings data on Thursday, February 28th. The information services provider reported $0.40 earnings per share for the quarter. The firm had revenue of $525.89 million during the quarter, compared to analyst estimates of $519.09 million. 58.com had a return on equity of 9.30% and a net margin of 15.11%. 58.com’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. As a group, research analysts anticipate that 58.com Inc will post 2.12 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Genesis Asset Managers LLP grew its holdings in shares of 58.com by 3.6% during the first quarter. Genesis Asset Managers LLP now owns 7,848,843 shares of the information services provider’s stock valued at $515,512,000 after purchasing an additional 272,316 shares during the last quarter. BlackRock Inc. boosted its position in shares of 58.com by 3.6% during the first quarter. BlackRock Inc. now owns 5,318,178 shares of the information services provider’s stock worth $349,299,000 after buying an additional 184,374 shares during the period. Baillie Gifford & Co. boosted its position in shares of 58.com by 0.7% during the fourth quarter. Baillie Gifford & Co. now owns 4,802,970 shares of the information services provider’s stock worth $260,369,000 after buying an additional 34,034 shares during the period. Standard Life Aberdeen plc boosted its position in shares of 58.com by 5.1% during the fourth quarter. Standard Life Aberdeen plc now owns 4,424,275 shares of the information services provider’s stock worth $238,933,000 after buying an additional 213,092 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its position in shares of 58.com by 3.2% during the first quarter. Coronation Fund Managers Ltd. now owns 4,321,958 shares of the information services provider’s stock worth $283,866,000 after buying an additional 133,319 shares during the period. 60.44% of the stock is owned by institutional investors.

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58.com Company Profile (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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