Zacks Investment Research Upgrades Sohu.com Inc. (SOHU) to Hold
Sohu.com Inc. (NASDAQ:SOHU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Sohu.com's business has been impacted by sluggish macroeconomic conditions in China. Specifically, its brand advertising business has remained sluggish because of the lower spending levels. Furthermore, the company has been cutting down its spending levels, which will make market share gain more difficult in the near term due to stiffening competition from peers. Nonetheless, the company’s strength in search and mobile businesses is a positive. The online video business also has some decent growth potential.”
Several other research analysts have also recently commented on SOHU. TheStreet cut Sohu.com from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Brean Capital reiterated a “hold” rating on shares of Sohu.com in a research note on Tuesday, May 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $40.00 price target on shares of Sohu.com in a research note on Wednesday, August 31st. Deutsche Bank AG assumed coverage on Sohu.com in a research note on Friday, September 9th. They issued a “buy” rating and a $53.30 price target on the stock. Finally, Citigroup Inc. cut Sohu.com from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.76.
Shares of Sohu.com (NASDAQ:SOHU) opened at 43.74 on Tuesday. Sohu.com has a 12-month low of $35.65 and a 12-month high of $59.50. The firm’s market capitalization is $1.69 billion. The stock has a 50 day moving average price of $40.78 and a 200 day moving average price of $42.39.
Sohu.com (NASDAQ:SOHU) last released its quarterly earnings results on Monday, August 1st. The company reported ($1.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by $0.25. Sohu.com had a negative return on equity of 3.65% and a negative net margin of 3.45%. The business earned $420 million during the quarter, compared to analyst estimates of $439.64 million. During the same quarter last year, the firm posted ($0.37) EPS. The company’s revenue was down 14.9% compared to the same quarter last year. Analysts predict that Sohu.com will post ($6.60) EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of SOHU. Acrospire Investment Management LLC raised its position in Sohu.com by 107.7% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock valued at $102,000 after buying an additional 1,400 shares during the period. Royal Bank of Canada raised its position in Sohu.com by 248.9% in the second quarter. Royal Bank of Canada now owns 3,049 shares of the company’s stock valued at $116,000 after buying an additional 2,175 shares during the period. Fox Run Management L.L.C. bought a new position in Sohu.com during the second quarter valued at approximately $250,000. Pacad Investment Ltd. raised its position in Sohu.com by 14.8% in the first quarter. Pacad Investment Ltd. now owns 6,059 shares of the company’s stock valued at $300,000 after buying an additional 780 shares during the period. Finally, Nomura Holdings Inc. raised its position in Sohu.com by 83.4% in the second quarter. Nomura Holdings Inc. now owns 8,987 shares of the company’s stock valued at $337,000 after buying an additional 4,087 shares during the period. 64.65% of the stock is owned by institutional investors.
Sohu.com Company Profile
Sohu.com Inc (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment.
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