The stock of 58.com Inc (ADR) (NYSE:WUBA) hit a new 52-week low and has $32.44 target or 8.00% below today’s $35.26 share price. The 7 months bearish chart indicates high risk for the $4.87B company. The 1-year low was reported on Nov, 10 by Barchart.com. If the $32.44 price target is reached, the company will be worth $389.60M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.92 million shares traded hands or 222.50% up from the average. 58.com Inc (ADR) (NYSE:WUBA) has declined 30.31% since April 8, 2016 and is downtrending. It has underperformed by 35.95% the S&P500.
58.com Inc (ADR) (NYSE:WUBA) Ratings Coverage
Out of 10 analysts covering 58.com (NYSE:WUBA), 7 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 70% are positive. 58.com has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The stock has “Overweight” rating given by Morgan Stanley on Tuesday, September 1. As per Tuesday, December 15, the company rating was initiated by HSBC. The firm has “Sell” rating given on Thursday, October 15 by Credit Agricole. As per Wednesday, October 5, the company rating was initiated by Deutsche Bank. CLSA initiated it with “Sell” rating and $48 target price in Thursday, October 15 report. The rating was initiated by Brean Capital with “Buy” on Friday, June 3. The firm has “Outperform” rating by Macquarie Research given on Friday, July 8.
According to Zacks Investment Research, “58.com Inc. operates online marketplace serving local merchants and consumers in China. It offers housing rental, recruitment, second-hand product, travel, catering, entertainment, and group-buying information. 58.com Inc. is based in Beijing, China.”
More recent 58.com Inc (ADR) (NYSE:WUBA) news were published by: Fool.com which released: “Why 58.com Inc. (ADR) Stock Plunged Today” on August 18, 2016. Also Marketwatch.com published the news titled: “/quotes/zigman/3870025/realtime” on October 31, 2013. Fool.com‘s news article titled: “Why 58.com Inc (ADR) Stock Skyrocketed Today” with publication date: April 14, 2015 was also an interesting one.
WUBA Company Profile
58.com Inc., incorporated on May 1, 2011, is a holding company. The Company’s business consists of its online classifieds and listing platforms. The Company’s online classifieds and listings platforms enable local merchants and clients to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke. 58 and Ganji are online multi-content category-classified advertising platforms, while Anjuke is an online real estate listing platform. In addition, 58 Daojia Inc. (58 Home), its subsidiary, operates a mobile closed-loop transactional platform for home services, which directly connects clients and individual service providers for local services, such as home cleaning, moving services and manicure services provided at home.
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