Sohu.com Inc. (SOHU) Raised to “Hold” at Zacks Investment Research
Sohu.com Inc. (NASDAQ:SOHU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Sohu.com's business has been impacted by sluggish macroeconomic conditions in China. Specifically, its brand advertising business has remained sluggish because of the lower spending levels. Furthermore, the company has been cutting down its spending levels, which will make market share gain more difficult in the near term due to stiffening competition from peers. Nonetheless, the company’s strength in search and mobile businesses is a positive. The online video business also has some decent growth potential.”
A number of other brokerages have also weighed in on SOHU. Brean Capital reiterated a “hold” rating on shares of Sohu.com in a research note on Tuesday, May 31st. Deutsche Bank AG started coverage on shares of Sohu.com in a research note on Friday, September 9th. They set a “buy” rating and a $53.30 target price for the company. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $40.00 target price on shares of Sohu.com in a research note on Wednesday, August 31st. TheStreet lowered shares of Sohu.com from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. lowered shares of Sohu.com from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Sohu.com has a consensus rating of “Hold” and a consensus price target of $53.76.
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Shares of Sohu.com (NASDAQ:SOHU) traded down 2.42% during midday trading on Tuesday, hitting $43.88. The company had a trading volume of 95,153 shares. Sohu.com has a 1-year low of $35.65 and a 1-year high of $59.50. The firm’s market capitalization is $1.70 billion. The stock has a 50 day moving average price of $40.45 and a 200 day moving average price of $42.41.
Sohu.com (NASDAQ:SOHU) last announced its earnings results on Monday, August 1st. The company reported ($1.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.37) by $0.25. The company had revenue of $420 million for the quarter, compared to analysts’ expectations of $439.64 million. Sohu.com had a negative net margin of 3.45% and a negative return on equity of 3.65%. Sohu.com’s quarterly revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. On average, equities analysts anticipate that Sohu.com will post ($6.60) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Orbis Allan Gray Ltd purchased a new position in shares of Sohu.com during the first quarter valued at $314,573,000. Macquarie Group Ltd. increased its position in shares of Sohu.com by 6.5% in the second quarter. Macquarie Group Ltd. now owns 3,703,534 shares of the company’s stock valued at $140,222,000 after buying an additional 226,711 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Sohu.com by 18.2% in the first quarter. Renaissance Technologies LLC now owns 1,451,600 shares of the company’s stock valued at $71,912,000 after buying an additional 224,000 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Sohu.com during the second quarter valued at $44,692,000. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Sohu.com during the second quarter valued at $20,449,000. 65.15% of the stock is owned by institutional investors.
Sohu.com Inc (Sohu) is an online media, search and game service company providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment.
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