SouFun Holdings Ltd. (SFUN) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of SouFun Holdings Ltd. (NYSE:SFUN) from a hold rating to a buy rating in a research note published on Wednesday morning. The firm currently has $5.00 target price on the stock.
According to Zacks, “SouFun Holdings Limited is a real estate Internet portal and home furnishing and improvement website in China. SouFun obtains its advertisements from online real estate advertisers. It has built a large and active community of users who are attracted by the comprehensive real estate, home furnishing and improvement content available on its portal which form the foundation of the Company’s service offerings. SouFun maintains many offices in order to focus on local market needs and covers many cities providing real estate-related content, search services, marketing and listing services in China. SouFun Holdings Limited is headquartered in Beijing, China. “
A number of other analysts have also commented on the company. TheStreet lowered SouFun Holdings from a hold rating to a sell rating in a research report on Tuesday, September 13th. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a $4.50 target price on shares of SouFun Holdings in a research report on Wednesday, August 31st. Credit Agricole SA downgraded SouFun Holdings from an underperform rating to a sell rating and cut their price target for the company from $6.00 to $4.50 in a research note on Friday, August 26th. Brean Capital reiterated a hold rating on shares of SouFun Holdings in a research note on Tuesday, August 16th. Finally, Nomura cut their price target on SouFun Holdings from $7.94 to $6.79 and set a buy rating for the company in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. SouFun Holdings presently has an average rating of Hold and a consensus target price of $6.22.
Shares of SouFun Holdings (NYSE:SFUN) opened at 4.33 on Wednesday. The company’s market cap is $2.05 billion. The firm has a 50-day moving average price of $4.52 and a 200 day moving average price of $5.19. SouFun Holdings has a 1-year low of $4.27 and a 1-year high of $8.17.
SouFun Holdings (NYSE:SFUN) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. SouFun Holdings had a negative return on equity of 38.20% and a negative net margin of 18.43%. The firm earned $287 million during the quarter, compared to analyst estimates of $269.76 million. During the same period last year, the company posted $0.04 EPS. The business’s quarterly revenue was up 34.2% on a year-over-year basis. On average, analysts predict that SouFun Holdings will post ($0.34) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of SouFun Holdings during the first quarter worth $125,000. Alta Advisers Ltd increased its position in shares of SouFun Holdings by 157.5% in the second quarter. Alta Advisers Ltd now owns 22,400 shares of the company’s stock worth $113,000 after buying an additional 13,700 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of SouFun Holdings by 128.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock worth $115,000 after buying an additional 12,800 shares during the last quarter. DIAM Co. Ltd. increased its position in shares of SouFun Holdings by 112.7% in the second quarter. DIAM Co. Ltd. now owns 23,400 shares of the company’s stock worth $116,000 after buying an additional 12,400 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of SouFun Holdings during the second quarter worth $128,000. Hedge funds and other institutional investors own 51.69% of the company’s stock.
SouFun Holdings Company Profile
SouFun Holdings Limited operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China. The Company, through its Internet platform, is engaged in the development of transaction and financing platforms by offering direct sales services for new homes, online real estate brokerage services and financial services.
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