JPMorgan Chase & Co. Trims SouFun Holdings Ltd. (SFUN) Target Price to $3.40
SouFun Holdings Ltd. (NYSE:SFUN) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $4.50 to $3.40 in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 16.04% from the stock’s current price.
SFUN has been the subject of several other research reports. Zacks Investment Research upgraded shares of SouFun Holdings from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, September 28th. TheStreet downgraded shares of SouFun Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. downgraded shares of SouFun Holdings from an “underperform” rating to a “sell” rating and dropped their target price for the company from $6.00 to $4.50 in a report on Friday, August 26th. Nomura decreased their price target on shares of SouFun Holdings from $7.94 to $6.79 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Finally, Brean Capital reissued a “hold” rating on shares of SouFun Holdings in a research report on Tuesday, August 16th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $4.38.
Shares of SouFun Holdings (NYSE:SFUN) traded up 1.03% during trading on Wednesday, hitting $2.93. The stock had a trading volume of 32,284,731 shares. The stock’s 50 day moving average price is $3.34 and its 200-day moving average price is $4.51. SouFun Holdings has a one year low of $2.80 and a one year high of $7.52. The stock’s market cap is $1.39 billion.
SouFun Holdings (NYSE:SFUN) last posted its earnings results on Monday, November 28th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. SouFun Holdings had a negative net margin of 19.01% and a negative return on equity of 32.53%. The firm earned $250.10 million during the quarter, compared to the consensus estimate of $296.46 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that SouFun Holdings will post ($0.36) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its stake in SouFun Holdings by 12.0% in the third quarter. Credit Suisse AG now owns 1,041,555 shares of the company’s stock valued at $4,676,000 after buying an additional 111,232 shares during the period. Lombard Odier Asset Management USA Corp purchased a new stake in SouFun Holdings during the third quarter valued at about $3,255,000. Xact Kapitalforvaltning AB purchased a new stake in SouFun Holdings during the third quarter valued at about $107,000. Hillhouse Capital Management Ltd. purchased a new stake in SouFun Holdings during the third quarter valued at about $6,735,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in SouFun Holdings by 409.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,425 shares of the company’s stock valued at $316,000 after buying an additional 56,600 shares during the period. 47.86% of the stock is owned by institutional investors and hedge funds.
SouFun Holdings Company Profile
Fang Holdings Limited, formerly 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.
Receive News & Stock Ratings for SouFun Holdings Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SouFun Holdings Ltd. and related stocks with our FREE daily email newsletter.