Sogou (NYSE:SOGO) Rating Lowered to Sell at Zacks Investment Research

Sogou (NYSE:SOGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com reports.

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 a number of other research reports. Credit Suisse Group set a $4.00 price target on shares of Sogou and gave the stock a “hold” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Sogou in a report on Monday, August 5th. They set a “hold” rating and a $3.90 price target for the company. Finally, JPMorgan Chase & Co. downgraded shares of Sogou from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $5.50 to $4.12 in a report on Thursday, June 27th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Sogou has an average rating of “Hold” and an average target price of $4.96.

Shares of Sogou stock opened at $4.16 on Thursday. The company has a 50 day moving average of $3.95 and a 200-day moving average of $5.02. Sogou has a 1-year low of $3.25 and a 1-year high of $9.29. The company has a market cap of $1.65 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.01 and a beta of 1.54.

Sogou (NYSE:SOGO) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. Sogou had a net margin of 5.99% and a return on equity of 7.98%. The company had revenue of $303.62 million during the quarter, compared to the consensus estimate of $304.00 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that Sogou will post 0.21 earnings per share for the current year.

A number of large investors have recently modified their holdings of SOGO. Deutsche Bank AG bought a new position in Sogou in the 4th quarter valued at approximately $31,000. Aperio Group LLC bought a new position in Sogou in the 2nd quarter valued at approximately $56,000. Fisher Asset Management LLC bought a new position in Sogou in the 2nd quarter valued at approximately $61,000. Cubist Systematic Strategies LLC lifted its stake in Sogou by 81.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,226 shares of the company’s stock valued at $83,000 after purchasing an additional 9,090 shares during the last quarter. Finally, Walleye Trading Advisors LLC bought a new position in Sogou in the 2nd quarter valued at approximately $91,000. 5.77% of the stock is owned by institutional investors and hedge funds.

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 PC and mobile users. 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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