What’s in 58.com Inc (ADR) After Today’s Bullish Options Activity?

 What's in 58.com Inc (ADR) After Today's Bullish Options Activity?

In today’s session 58.com Inc (ADR) (WUBA) registered an unusually high (558) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious WUBA increase. With 558 contracts traded and 1314 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: WUBA161216C00045000 closed last at: $0.7 or 44% down. About 1.01M shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 41.54% since April 11, 2016 and is downtrending. It has underperformed by 47.69% 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. $65 is the highest target while $48 is the lowest. The $59.88 average target is 84.64% above today’s ($32.43) stock price. 58.com has been the topic of 10 analyst reports since August 21, 2015 according to StockzIntelligence Inc. Macquarie Research initiated the stock with “Outperform” rating in Friday, July 8 report. CLSA initiated 58.com Inc (ADR) (NYSE:WUBA) rating on Thursday, October 15. CLSA has “Sell” rating and $48 price target. Deutsche Bank initiated the shares of WUBA in a report on Wednesday, October 5 with “Buy” rating. The rating was initiated by HSBC on Tuesday, December 15 with “Buy”. The firm earned “Buy” rating on Friday, June 3 by Brean Capital. The firm has “Sell” rating given on Thursday, October 15 by Credit Agricole. Morgan Stanley upgraded 58.com Inc (ADR) (NYSE:WUBA) on Tuesday, September 1 to “Overweight” rating.

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.”

58.com Inc. is a holding company. The Company’s business consists of its online classifieds and listing platforms. The company has a market cap of $3.88 billion. The Company’s online classifieds and listings platforms enable local merchants and clients to connect, share information and conduct business in China. It currently has negative earnings. 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.

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.

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.

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