Dallas, Texas 04/28/2014 (FINANCIALSTRENDS) – 58.com Inc (ADR) (NYSE:WUBA) which operates from Beijing has an online marketplace for two stakeholders of the ecommerce industry- merchants and consumers alike. The company is available for access by way of mobile applications as well. The platform has been successful in capturing the interest of local merchants as well as consumers to connect with each other. It will also help in the sharing of information for business purposes as well.
58.com Inc (ADR) (NYSE:WUBA) has a marketplace which covers over 280 cities, with business categories covering diverse spectrum such as housing, goods, pets, yellow pages as well as tickets and other services.
The success of WUBA thus far can fairly said to be due to its interesting and well prioritized advertising campaigns. Additionally, the company has also been engaged with several types of third party internet companies located in China.
58.comInc (ADR) (NYSE:WUBA) was also part of quick surge on the stock market on April 22, 2014. The stocks of this share had closed nearly 10.43% higher and are considered to be a good pick for the company.
58.com Inc (ADR) (NYSE:WUBA) following the interest shown by investor group Tiger Global Investments has ensured this business directory-based service provider soared at the stock market plays.
In the past few weeks, the company has also received analyst coverage. One of the first to cover this stock, Pacific Crest has increased the target price of this stock from $41.00 to $58.00. The stock has been currently rated an ‘outperform’ on the stock market. Additionally, the price objective for this stock, which currently reads 22.65% higher, has moved ahead with 7.20% over previous trading sessions. The shares of this stock have closed at $46.77, with the stock holding a trading range of $42.59 and $49.05. The Year to date performance for this stock is 21.99%.
