SouFun Holdings Trading 7.5% Higher on Strong Earnings (SFUN)
SouFun Holdings (NASDAQ:SFUN) shares traded up 7.5% during mid-day trading on Thursday after the company announced better than expected quarterly earnings, Analyst Ratings Net reports. The stock traded as high as $11.34 and last traded at $11.12, with a volume of 8,759,148 shares trading hands. The stock had previously closed at $10.34.
The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.02. The company had revenue of $168.20 million for the quarter, compared to the consensus estimate of $173.52 million. The company’s quarterly revenue was up 16.7% on a year-over-year basis.
SFUN has been the subject of a number of recent research reports. Analysts at T.H. Capital cut their price target on shares of SouFun Holdings to $14.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Macquarie initiated coverage on shares of SouFun Holdings in a research note on Friday, July 11th. They set a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. downgraded shares of SouFun Holdings from an “overweight” rating to a “neutral” rating in a research note on Friday, June 13th. They now have a $10.00 price target on the stock, down previously from $17.00. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $15.48.
The stock’s 50-day moving average is $10.43 and its 200-day moving average is $13.0. The company has a market cap of $4.710 billion and a P/E ratio of 14.26. SouFun Holdings also saw some unusual options trading on Wednesday. Traders purchased 8,543 put options on the company. This is an increase of approximately 156% compared to the average volume of 3,343 put options.
SouFun Holdings Limited (NASDAQ:SFUN) operates as a real estate Internet portal in China.
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