Credit Suisse Group cut shares of Sogou (NYSE:SOGO) from an outperform rating to a neutral rating in a research note released on Monday, MarketBeat.com reports.
SOGO has been the topic of several other research reports. Zacks Investment Research lowered Sogou from a hold rating to a sell rating in a report on Friday, October 12th. JPMorgan Chase & Co. downgraded Sogou from an overweight rating to a neutral rating in a research report on Wednesday, August 1st. Deutsche Bank downgraded Sogou from a hold rating to a sell rating and set a $8.20 price objective on the stock. in a research report on Tuesday, July 31st. Finally, ValuEngine downgraded Sogou from a buy rating to a hold rating in a research report on Thursday, November 1st. Five research analysts have rated the stock with a hold rating, Sogou has a consensus rating of Hold and a consensus price target of $12.13.
NYSE:SOGO opened at $5.73 on Monday. Sogou has a fifty-two week low of $5.38 and a fifty-two week high of $15.50. The firm has a market cap of $2.50 billion and a P/E ratio of 19.76.
Sogou (NYSE:SOGO) last released its quarterly earnings results on Monday, November 5th. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. Sogou had a return on equity of 13.07% and a net margin of 7.96%. The company had revenue of $276.57 million for the quarter, compared to analyst estimates of $281.19 million. The business’s revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts forecast that Sogou will post 0.28 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley grew its position in Sogou by 2.9% in the 2nd quarter. Morgan Stanley now owns 4,823,025 shares of the company’s stock valued at $55,129,000 after acquiring an additional 136,003 shares during the last quarter. TB Alternative Assets Ltd. grew its position in Sogou by 18.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 1,312,944 shares of the company’s stock valued at $9,755,000 after acquiring an additional 205,479 shares during the last quarter. Nomura Holdings Inc. grew its position in Sogou by 949.1% in the 2nd quarter. Nomura Holdings Inc. now owns 1,201,753 shares of the company’s stock valued at $13,736,000 after acquiring an additional 1,087,198 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Sogou in the 2nd quarter valued at $8,857,000. Finally, New Silk Road Investment PTE Ltd. grew its position in Sogou by 5.0% in the 3rd quarter. New Silk Road Investment PTE Ltd. now owns 525,000 shares of the company’s stock valued at $3,901,000 after acquiring an additional 25,000 shares during the last quarter. 5.61% of the stock is currently owned by institutional investors.
Sogou Company Profile
Sogou Inc provides search and search-related services in the People's Republic of China. The company provides Sogou Search, a search engine; and Sogou Input Method, a Chinese language input software for mobile and PC MAUs. It also offers search and search-related advertising services; Internet value-added services related to the operation of Web games and mobile games developed by third parties; and online reading services, as well as other products and services, including smart hardware products.
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