Stock Traders Buy Large Volume of Put Options on Qihoo 360 Technology Co (QIHU)
Shares of Qihoo 360 Technology Co (NASDAQ:QIHU) were the target of unusually large options trading on Friday. Stock traders acquired 5,720 put options on the company, AmericanBankingNews.com reports. This represents an increase of approximately 142% compared to the typical daily volume of 2,363 put options.
QIHU has been the subject of a number of recent research reports. Analysts at Credit Agricole initiated coverage on shares of Qihoo 360 Technology Co in a research note on Wednesday, August 13th. They set a “buy” rating on the stock. Separately, analysts at Zacks downgraded shares of Qihoo 360 Technology Co from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $105.30 price target on the stock. Finally, analysts at STANDARD CHARTERED.5 upgraded shares of Qihoo 360 Technology Co from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 29th. They now have a $104.00 price target on the stock, up previously from $80.00. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.02.
Qihoo 360 Technology Co (NASDAQ:QIHU) traded up 0.12% on Friday, hitting $101.75. The stock had a trading volume of 4,001,759 shares. Qihoo 360 Technology Co has a 52-week low of $72.20 and a 52-week high of $124.42. The stock has a 50-day moving average of $94.53 and a 200-day moving average of $94.86. The company has a market cap of $12.481 billion and a P/E ratio of 91.81.
Qihoo 360 Technology Co (NASDAQ:QIHU) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.20. The company had revenue of $265.10 million for the quarter, compared to the consensus estimate of $228.20 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 141.3% on a year-over-year basis. Analysts expect that Qihoo 360 Technology Co will post $2.48 EPS 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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