Brean Capital Reiterates a Hold Rating on 58.com Inc

By Ryan Adsit

In a report released today, Fawne Jiang from Brean Capital reiterated a Hold rating on 58.com Inc (NYSE: WUBA). The company’s shares opened today at $33.59, close to its 52-week low of $30.66.

According to TipRanks.com, Jiang is a 4-star analyst with an average return of 3.9% and a 51.6% success rate. Jiang covers the Technology sector, focusing on stocks such as Bitauto Holdings Limited, China Mobile Games, and Soufun Holdings.

58.com Inc has an analyst consensus of Moderate Buy.

Based on 58.com Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $300 million and GAAP net loss of $28.68 million. In comparison, last year the company earned revenue of $210 million and had a GAAP net loss of $203 million.

58.com Inc. operates online marketplace serving local merchants and consumers. The company’s online marketplace enables local merchants and consumers. The company was founded in December 2005 and is headquartered in Beijing, China.