The stock of 58.com Inc (ADR) (NYSE:WUBA) is a huge mover today! About 7.50 million shares traded hands or 728.35% 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.
The move comes after 5 months negative chart setup for the $4.62B company. It was reported on Nov, 10 by Barchart.com. We have $30.77 PT which if reached, will make NYSE:WUBA worth $369.60 million less.
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 firm has “Buy” rating given on Friday, June 3 by Brean Capital. The firm earned “Buy” rating on Wednesday, October 5 by Deutsche Bank. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, September 1. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Outperform” rating by Macquarie Research on Friday, July 8. The rating was initiated by CLSA on Thursday, October 15 with “Sell”. The firm earned “Buy” rating on Tuesday, December 15 by HSBC. The stock has “Sell” rating given by Credit Agricole on Thursday, October 15.
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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