Is Buying 58.com Inc (ADR) Here a Winning Strategy? Option Traders Like The Stock

 Is Buying 58.com Inc (ADR) Here a Winning Strategy? Option Traders Like The Stock

In today’s session 58.com Inc (ADR) (WUBA) registered an unusually high (71) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious WUBA increase. With 71 contracts traded and 2104 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: WUBA170120C00035000 closed last at: $1.55 or 14.8% up. About 251,919 shares traded hands. 58.com Inc (ADR) (NYSE:WUBA) has declined 39.45% since April 26, 2016 and is downtrending. It has underperformed by 44.71% the S&P500.

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. CLSA downgraded the shares of WUBA in a report on Friday, November 11 to “Underperform” rating. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Hold” rating by HSBC on Tuesday, November 15. The stock of 58.com Inc (ADR) (NYSE:WUBA) earned “Buy” rating by HSBC on Tuesday, December 15. Deutsche Bank initiated it with “Buy” rating and $65 target price in Wednesday, October 5 report. Credit Agricole initiated the stock with “Sell” rating in Thursday, October 15 report. Brean Capital initiated 58.com Inc (ADR) (NYSE:WUBA) on Friday, June 3 with “Buy” rating. The rating was downgraded by Brean Capital on Friday, November 11 to “Neutral”. The firm earned “Outperform” rating on Friday, July 8 by Macquarie Research. On Thursday, October 15 the stock rating was initiated by CLSA with “Sell”. The rating was downgraded by Credit Suisse on Friday, November 11 to “Neutral”.

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 $4.75 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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