Credit Suisse Lowers Qihoo 360 Technology Co to Neutral (QIHU)
Qihoo 360 Technology Co (NASDAQ:QIHU) was downgraded by Credit Suisse from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Qihoo 360 Technology Co (NASDAQ:QIHU) opened at 93.87 on Tuesday. Qihoo 360 Technology Co has a 1-year low of $73.00 and a 1-year high of $124.42. The stock has a 50-day moving average of $94.72 and a 200-day moving average of $94.94. The company has a market cap of $11.515 billion and a price-to-earnings ratio of 91.92.
Qihoo 360 Technology Co (NASDAQ:QIHU) last posted its quarterly earnings results on Monday, August 25th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.47 by $0.03. The company had revenue of $317.90 million for the quarter, compared to the consensus estimate of $309.38 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 109.6% on a year-over-year basis. On average, analysts predict that Qihoo 360 Technology Co will post $2.51 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $113.02.
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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