Price Action Report: Could 58.com Inc (ADR) Rise Even More? The Stock Had Another Big Increase Today

Price Action Report: Could 58.com Inc (ADR) Rise Even More? The Stock Had Another Big Increase Today

The stock of 58.com Inc (ADR) (NYSE:WUBA) is a huge mover today! About 1.43 million shares traded hands or 2.88% up from the average. 58.com Inc (ADR) (NYSE:WUBA) has declined 48.64% since April 14, 2016 and is downtrending. It has underperformed by 53.33% the S&P500.
The move comes after 5 months positive chart setup for the $4.47 billion company. It was reported on Nov, 16 by Barchart.com. We have $46.77 PT which if reached, will make NYSE:WUBA worth $2.15 billion more.

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

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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