Sohu.com Inc. (SOHU) Stock Rating Upgraded by Zacks Investment Research
Sohu.com Inc. (NASDAQ:SOHU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. Estimates have been going down ahead of the company’s third quarter earnings release.”
Several other analysts also recently issued reports on the company. Brean Capital reissued a “hold” rating on shares of Sohu.com in a research note on Wednesday, July 6th. Citigroup Inc. cut Sohu.com from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Deutsche Bank AG began coverage on Sohu.com in a report on Friday, September 9th. They issued a “buy” rating and a $53.30 price objective for the company. JPMorgan Chase & Co. restated an “underweight” rating and issued a $40.00 price objective on shares of Sohu.com in a report on Wednesday, August 31st. Finally, TheStreet cut Sohu.com from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $53.76.
Sohu.com (NASDAQ:SOHU) traded up 1.10% during trading on Tuesday, reaching $44.27. The company’s stock had a trading volume of 73,943 shares. The firm’s 50-day moving average is $42.10 and its 200-day moving average is $42.08. Sohu.com has a 52-week low of $35.65 and a 52-week high of $59.50. The stock’s market cap is $1.71 billion.
Sohu.com (NASDAQ:SOHU) last released its quarterly earnings results on Monday, August 1st. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by $0.25. Sohu.com had a negative net margin of 3.45% and a negative return on equity of 3.65%. The firm earned $420 million during the quarter, compared to analyst estimates of $439.64 million. During the same period in the prior year, the business earned ($0.37) EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities research analysts forecast that Sohu.com will post ($6.60) EPS for the current year.
A number of institutional investors have recently bought and sold shares of SOHU. Fox Run Management L.L.C. acquired a new position in Sohu.com during the second quarter worth approximately $250,000. Squarepoint Ops LLC acquired a new position in Sohu.com during the first quarter worth approximately $1,045,000. Orbis Allan Gray Ltd acquired a new position in Sohu.com during the first quarter worth approximately $314,573,000. Invictus RG boosted its position in Sohu.com by 78.6% in the first quarter. Invictus RG now owns 7,318 shares of the company’s stock worth $363,000 after buying an additional 3,220 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Sohu.com by 18.2% in the first quarter. Renaissance Technologies LLC now owns 1,451,600 shares of the company’s stock worth $71,912,000 after buying an additional 224,000 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.
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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