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 report released 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 research firms also recently issued reports on SOHU. Brean Capital reiterated a “hold” rating on shares of Sohu.com in a research note on Wednesday, July 6th. Citigroup Inc. downgraded Sohu.com from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Deutsche Bank AG began coverage on Sohu.com in a research note on Friday, September 9th. They set a “buy” rating and a $53.30 price target for the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $40.00 price target on shares of Sohu.com in a research note on Wednesday, August 31st. Finally, TheStreet downgraded Sohu.com from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.76.
Shares of Sohu.com (NASDAQ:SOHU) traded up 1.10% on Tuesday, hitting $44.27. The stock had a trading volume of 73,943 shares. The stock’s market cap is $1.71 billion. Sohu.com has a 1-year low of $35.65 and a 1-year high of $59.50. The firm’s 50-day moving average is $42.10 and its 200 day moving average is $42.08.
Sohu.com (NASDAQ:SOHU) last issued its earnings results on Monday, August 1st. The company reported ($1.62) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $439.64 million. During the same quarter last year, the firm earned ($0.37) EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. Equities analysts forecast that Sohu.com will post ($6.60) EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted 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 boosted 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. Pacad Investment Ltd. boosted 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. Fox Run Management L.L.C. purchased a new position in Sohu.com during the second quarter valued at approximately $250,000. Finally, 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 valued at $363,000 after buying an additional 3,220 shares during the period. 64.65% of the stock is owned by institutional investors and hedge funds.
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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