Zacks Investment Research Upgrades Sogou (SOGO) to “Hold”

Zacks Investment Research upgraded shares of Sogou (NYSE:SOGO) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Sogou Inc. operates as an online search engine. The Company develops Internet applications such as map, voice search and smart phone assistant as well as web directory and browser. Sogou Inc. is based in China. “

SOGO has been the subject of several other reports. Deutsche Bank downgraded Sogou from a hold rating to a sell rating and set a $8.20 price objective for the company. in a research note on Tuesday, July 31st. JPMorgan Chase & Co. downgraded Sogou from an overweight rating to a neutral rating in a research note on Wednesday, August 1st. ValuEngine downgraded Sogou from a buy rating to a hold rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group downgraded Sogou from an outperform rating to a neutral rating in a research note on Monday, November 5th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of Hold and an average target price of $12.13.

Shares of NYSE SOGO traded down $0.36 during trading hours on Wednesday, reaching $5.75. The stock had a trading volume of 1,586,906 shares, compared to its average volume of 1,997,991. The stock has a market cap of $2.47 billion and a PE ratio of 19.83. Sogou has a fifty-two week low of $5.38 and a fifty-two week high of $15.50.

Sogou (NYSE:SOGO) last announced its earnings results on Monday, November 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $276.57 million during the quarter, compared to analysts’ expectations of $281.19 million. Sogou had a return on equity of 13.07% and a net margin of 7.96%. Sogou’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts forecast that Sogou will post 0.28 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of SOGO. Nomura Holdings Inc. raised its stake in Sogou by 949.1% during 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 purchased a new stake in Sogou during the 2nd quarter valued at approximately $8,857,000. Millennium Management LLC purchased a new stake in Sogou during the 2nd quarter valued at approximately $5,860,000. BlackRock Inc. raised its stake in Sogou by 684.9% during the 2nd quarter. BlackRock Inc. now owns 430,492 shares of the company’s stock valued at $4,921,000 after acquiring an additional 375,646 shares during the last quarter. Finally, TB Alternative Assets Ltd. raised its stake in Sogou by 18.6% during 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. 5.61% of the stock is owned by hedge funds and other institutional investors.

About Sogou

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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