Qihoo 360 Technology Stock Rating Lowered by TheStreet (QIHU)
Qihoo 360 Technology (NASDAQ:QIHU) was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, American Banking & Market News reports.
The analysts wrote, “Qihoo 360 Technology (QIHU) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company’s return on equity has been disappointing.”
A number of other analysts have also recently weighed in on QIHU. Analysts at Credit Suisse initiated coverage on shares of Qihoo 360 Technology (NASDAQ:QIHU) in a research note to investors on Thursday, September 26th. They set a “neutral” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of Qihoo 360 Technology (NASDAQ:QIHU) in a research note to investors on Tuesday, September 17th. They now have a $94.00 price target on the stock. Finally, analysts at Maxim Group raised their price target on shares of Qihoo 360 Technology (NASDAQ:QIHU) from $85.00 to $96.00 in a research note to investors on Tuesday, September 17th. They now have a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $75.07.
Shares of Qihoo 360 Technology (NASDAQ:QIHU) traded up 0.33% during mid-day trading on Wednesday, hitting $86.96. 1,904,823 shares of the company’s stock traded hands. Qihoo 360 Technology has a 1-year low of $20.01 and a 1-year high of $94.90. The stock’s 50-day moving average is $80.97 and its 200-day moving average is $52.99. The company has a market cap of $10.377 billion and a P/E ratio of 174.39.
Qihoo 360 Technology (NASDAQ:QIHU) last released its earnings data on Monday, August 26th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The company had revenue of $151.70 million for the quarter, compared to the consensus estimate of $144.19 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 108.4% on a year-over-year basis. On average, analysts predict that Qihoo 360 Technology will post $1.29 earnings per share for the current fiscal year.
Qihoo 360 Technology Co Ltd (NASDAQ:QIHU), formerly Qihoo Technology Company Limited, is engaged in the operations of Internet services and sales of third party anti-virus software in the People’s Republic of China.
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