Sungy Mobile Ltd (NASDAQ:GOMO) is trading down post its fourth quarterly earnings after the company became public yesterday. The negative sentiments encompassing mobile internet stocks yesterday was partially responsible for a pull back in its prices. The broader market plunge was due to the poor debut of mobile game maker King Digital that dipped by nearly 16% in the day. Sungy Mobile Ltd (NASDAQ:GOMO) shares after opening at $20.20 moved to $21.15 on last trade day and at the end of the day closed at $19.70. Company price to sales ratio in past twelve months was calculated as 14.06 and price to cash ratio as 34.64. Sungy Mobile Ltd (NASDAQ:GOMO) showed a negative weekly performance of -31.55%.
Compare that with the recent IPO of Castlight Health Inc (NYSE:CSLT) , which I called undervalued a few days before Aaron Pressman at Yahoo called it the most overpriced IPO of this century. (In between, the stock had quadrupled, so at least we both could be right). Castlight, with $13 million in 2013 sales and a loss of more than $62 million, was hardly an IPO that tasted good right now — its losses were far too big for that. But it was an IPO with good taste — because it may hold the key to helping corporations control the rising cost of workers’ health-care coverage. Castlight Health Inc (NYSE:CSLT) shares fell -8.70% in last trading session and ended the day on $21.42. CSLT return on equity ratio is recorded as 108.10% and its return on assets is -138.80%.
China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) which debuted on NASDAQ in September 2012 is witnessing change in tone among analysts regarding its future. Generally analysts are bearish on the stock as can be seen in the many earnings estimate revisions happening in the stock. In the past four weeks, the stock has attracted one negative earnings estimate adjustment, with no positive revisions. Thus, this goes a long way to suggest that trouble is ahead of the road for the mobile games provider. And on top of the bearish earnings view in the stock, shares of CMGE have dropped 46 percent in the last one month.China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) shares moved up 6.86% in last trading session and was closed at $20.42, while trading in range of $19.00-$21.50. China Mobile Games & Entnmnt Grp Ltd (NASDAQ:CMGE) year to date performance is 127.39%.
Wix.com Ltd. (NASDAQ:WIX), a leading global web development platform, announced its partnership with Yandex. Money, the largest online payment service in Russia, which will provide a local online payment system to Wix’s users there. Through this partnership, Wix is now able to provide Russian users its powerful website development technology, supported by Yandex.Money’s robust and popular online payment solutions.Wix.Com Ltd (NASDAQ:WIX) weekly performance is -18.15%. On last trading day company shares ended up $21.02. Wix.Com Ltd (NASDAQ:WIX) distance from 50-day simple moving average is -24.29%. Analysts mean target price for the company is $37.25.