Weakness Seen in 58.com (WUBA): Stock Tumbles 8.8%
58.com Inc. (WUBA) saw a big move in the last trading session, as the company’s shares fell by nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent uptrend for WUBA, as the stock is up over 16% in the past one-month time frame.
The company, an operator of online marketplace for local merchants and consumers, has not seen any estimate revision over the past month, and the current year earnings consensus hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, especially on earnings estimates following the recent slump.
WUBA currently holds a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the Internet Software/ Services industry may consider better-ranked stocks like Qihoo 360 Technology Co. Ltd. (QIHU), Digital River Inc. (DRIV) and Boingo Wireless, Inc. (WIFI). While Qihoo holds a Zacks Rank #1 (Strong Buy), Digital River and Boingo carry a Zacks Rank #2 (Buy).
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58COM INC (WUBA): Free Stock Analysis Report
QIHOO 360 TECH CO LTD (QIHU): Free Stock Analysis Report
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BOINGO WIRELESS INC (WIFI): Free Stock Analysis Report
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