Macquarie Initiates Coverage on 58.com Inc (ADR)(NYSE:WUBA). The shares have been rated Outperform. The rating by Macquarie was issued on Jul 8, 2016.
In a different note, Brean Capital said it Initiates Coverage on 58.com Inc (ADR), according to a research note issued on Jun 3, 2016. The shares have been rated ‘Buy’ by the firm.
58.com Inc (ADR) (WUBA) shares turned negative on Wednesdays trading session with the shares closing down -0.84 points or -1.75% at a volume of 7,36,483. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $48.5. The peak price level was also seen at $48.5 while the days lowest was $46.915. Finally the shares closed at $47.17. The 52-week high of the shares is $70.27 while the 52-week low is $37.72. According to the latest information available, the market cap of the company is $6,681 M.
58.com Inc (ADR)(WUBA) last announced its earnings results on Jun 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $231.28M. Analysts had an estimated revenue of $224.83M. Earnings per share were $-0.36. Analysts had estimated an EPS of $-0.69.
58.com Inc. (58.com) is a holding company. The Company operates an online marketplace serving local merchants and consumers in China. The Company’s online marketplace enables local merchants and consumers to connect share information and conduct business. The Company’s online marketplace contains local information in approximately 395 cities across the content categories including housing jobs used goods automotive pets tickets yellow pages and other local services. The Company conducts automatic and manual screening using its technology and processes. The Company’s users post listings on its marketplace covering a range of services and products on its Website www.58.com. The Company organizes the listings on its marketplace by content categories such as jobs housing used goods automotive yellow pages pets and tickets.