SouFun Holdings Ltd. (SFUN) Upgraded to “Buy” by 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 report released on Wednesday. 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. “
Several other analysts have also recently commented on the stock. TheStreet cut shares of SouFun Holdings from a hold rating to a sell rating in a report on Tuesday, September 13th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $4.50 target price on shares of SouFun Holdings in a research note on Wednesday, August 31st. Credit Agricole SA cut shares of SouFun Holdings from an underperform rating to a sell rating and reduced their target price 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 reduced their target price on shares of 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 investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $6.22.
SouFun Holdings (NYSE:SFUN) traded down 0.87% on Wednesday, reaching $4.54. 946,177 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $4.58 and a 200 day moving average of $5.22. The stock’s market capitalization is $2.15 billion. SouFun Holdings has a 12 month low of $4.27 and a 12 month high of $8.17.
SouFun Holdings (NYSE:SFUN) last posted its quarterly earnings results on Thursday, August 25th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business earned $287 million during the quarter, compared to analysts’ expectations of $269.76 million. SouFun Holdings had a negative net margin of 18.43% and a negative return on equity of 38.20%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $0.04 earnings per share. Equities analysts predict that SouFun Holdings will post ($0.34) earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Alta Advisers Ltd raised 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 period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised 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 period. DIAM Co. Ltd. raised 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 period. Wellington Management Group LLP bought a new position in shares of SouFun Holdings during the first quarter worth about $125,000. Finally, Emerald Acquisition Ltd. bought a new position in shares of SouFun Holdings during the second quarter worth about $128,000. 51.69% of the stock is currently owned by institutional investors and hedge funds.
About SouFun Holdings
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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