58.com Reports Second Quarter 2016 Unaudited Financial Results
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Brean Capital Cuts Price Target on 58.com (WUBA) to $57 Following Mixed 2Q
August 19, 2016 11:22 AM EDTBrean Capital maintained a Buy rating on 58. com Inc (NYSE: WUBA), and cut the price target to $57.00 (from $65.00), following the company's 2Q earnings report. WUBA reported 2Q16 revenue of $297.8mm, trailing consensus expectations of $302mm. Non-GAAP EPS was $0.15, exceeding the consensus estimate of a $0.12 loss by a solid margin on lower operating expenses across the board. The... More
