Qihoo 360 Technology Upgraded to “Buy” at Stifel Nicolaus (QIHU)
Qihoo 360 Technology (NASDAQ:QIHU) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $108.00 price target on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 29.37% from the company’s current price.
The analysts wrote, “We believe 2014 is the year when Qihoo begins to narrow the spread between its search query share of 23% and its search revenue share of less than 2%,” the report noted. “The strategies to do this include 1) increasing search advertiser count and driving advertiser density; 2) increasing CPC prices and revenue per advertiser; 3) landing the “big spenders” as search advertisers with the help of a new executive; and 4) continuing to grow search query share including with a “Qihoo Union” offering.”
A number of other firms have also recently commented on QIHU. Analysts at Jefferies Group raised their price target on shares of Qihoo 360 Technology from $100.00 to $105.00 in a research note to investors on Tuesday, November 26th. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Qihoo 360 Technology in a research note to investors on Tuesday, November 26th. They now have a $118.00 price target on the stock, up previously from $90.00. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Qihoo 360 Technology to $79.00 in a research note to investors on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $93.91.
Shares of Qihoo 360 Technology (NASDAQ:QIHU) traded up 3.01% during mid-day trading on Monday, hitting $83.48. The stock had a trading volume of 4,320,873 shares. Qihoo 360 Technology has a 52 week low of $27.76 and a 52 week high of $96.74. The stock’s 50-day moving average is $81.34 and its 200-day moving average is $77.00. The company has a market cap of $10.073 billion and a price-to-earnings ratio of 107.62.
Qihoo 360 Technology (NASDAQ:QIHU) last released its earnings data on Monday, November 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.10. The company had revenue of $187.90 million for the quarter, compared to the consensus estimate of $181.74 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 123.7% on a year-over-year basis. On average, analysts predict that Qihoo 360 Technology will post $1.41 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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