Price Action to Note: How Analysts Feel About 58.com Inc (ADR) After Today’s Big Increase?

Price Action to Note: How Analysts Feel About 58.com Inc (ADR) After Today's Big Increase?

The stock of 58.com Inc (ADR) (NYSE:WUBA) is a huge mover today! About 684,619 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 40.78% since April 22, 2016 and is downtrending. It has underperformed by 46.19% the S&P500.
The move comes after 8 months positive chart setup for the $5.15B company. It was reported on Nov, 25 by Barchart.com. We have $35.83 PT which if reached, will make NYSE:WUBA worth $206.00M more.

Analysts await 58.com Inc (ADR) (NYSE:WUBA) to report earnings on February, 23. They expect $-0.13 EPS, up 69.77% or $0.30 from last year’s $-0.43 per share. After $-0.21 actual EPS reported by 58.com Inc (ADR) for the previous quarter, Wall Street now forecasts -38.10% EPS growth.

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. As per Friday, July 8, the company rating was initiated by Macquarie Research. The firm has “Buy” rating given on Wednesday, October 5 by Deutsche Bank. As per Tuesday, September 1, the company rating was upgraded by Morgan Stanley. Brean Capital initiated 58.com Inc (ADR) (NYSE:WUBA) on Friday, June 3 with “Buy” rating. The stock of 58.com Inc (ADR) (NYSE:WUBA) has “Underperform” rating given on Friday, November 11 by CLSA. Credit Agricole initiated the shares of WUBA in a report on Thursday, October 15 with “Sell” rating. On Friday, November 11 the stock rating was downgraded by Credit Suisse to “Neutral”. The stock of 58.com Inc (ADR) (NYSE:WUBA) has “Sell” rating given on Thursday, October 15 by CLSA. Brean Capital downgraded 58.com Inc (ADR) (NYSE:WUBA) on Friday, November 11 to “Neutral” rating. On Tuesday, December 15 the stock rating was initiated by HSBC with “Buy”.

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 news for 58.com Inc (ADR) (NYSE:WUBA) were recently published by: Fool.com, which released: “Why 58.com Inc. (ADR) Stock Plunged Today” on August 18, 2016. Marketwatch.com‘s article titled: “/quotes/zigman/3870025/realtime” and published on October 31, 2013 is yet another important article.

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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