The stock of 58.com Inc (ADR) (NYSE:WUBA) hit a new 52-week low and has $29.43 target or 6.00% below today’s $31.31 share price. The 8 months bearish chart indicates high risk for the $4.53 billion company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $29.43 price target is reached, the company will be worth $271.80M 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 635,371 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 43.03% since April 19, 2016 and is downtrending. It has underperformed by 46.89% the S&P500.
58.com Inc (ADR) (NYSE:WUBA) Ratings Coverage
Out of 11 analysts covering 58.com (NYSE:WUBA), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. 58.com has been the topic of 14 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Brean Capital downgraded the stock to “Neutral” rating in Friday, November 11 report. Brean Capital initiated 58.com Inc (ADR) (NYSE:WUBA) rating on Friday, June 3. Brean Capital has “Buy” rating and $65 price target. The rating was initiated by Macquarie Research with “Outperform” on Friday, July 8. Credit Suisse downgraded the shares of WUBA in a report on Friday, November 11 to “Neutral” rating. The rating was downgraded by HSBC on Tuesday, November 15 to “Hold”. The rating was initiated by Credit Agricole with “Sell” on Thursday, October 15. The rating was downgraded by CLSA to “Underperform” on Friday, November 11. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Overweight” rating by Morgan Stanley on Tuesday, September 1. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Sell” rating by CLSA on Thursday, October 15. The stock of 58.com Inc (ADR) (NYSE:WUBA) has “Buy” rating given on Wednesday, October 5 by Deutsche Bank.
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 Fool.com published the news titled: “Why 58.com Inc (ADR) Stock Skyrocketed Today” on April 14, 2015. Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: October 31, 2013 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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