Sogou (NYSE:SOGO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sogou (NYSE:SOGO) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has $5.75 price target on the stock.

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. “

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Sogou from a neutral rating to an underweight rating and reduced their target price for the stock from $5.50 to $4.12 in a report on Thursday, June 27th. ValuEngine upgraded shares of Sogou from a hold rating to a buy rating in a report on Friday, September 6th. Credit Suisse Group upgraded shares of Sogou from a neutral rating to an outperform rating in a report on Friday, October 4th. Finally, Jefferies Financial Group began coverage on shares of Sogou in a report on Monday, August 5th. They set a hold rating and a $3.90 target price on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Sogou currently has a consensus rating of Hold and a consensus price target of $4.87.

Sogou stock opened at $5.18 on Tuesday. The firm has a market cap of $2.09 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43. Sogou has a 52-week low of $3.25 and a 52-week high of $7.12. The company’s 50 day moving average is $4.82 and its two-hundred day moving average is $4.69.

Sogou (NYSE:SOGO) last released its earnings results on Monday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. The company had revenue of $303.62 million for the quarter, compared to analyst estimates of $304.00 million. Sogou had a net margin of 5.99% and a return on equity of 7.98%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. Analysts predict that Sogou will post 0.25 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. lifted its holdings in Sogou by 0.3% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,174,980 shares of the company’s stock worth $33,517,000 after buying an additional 26,026 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Sogou by 270.0% in the 2nd quarter. Alberta Investment Management Corp now owns 1,850,000 shares of the company’s stock valued at $7,585,000 after purchasing an additional 1,350,000 shares in the last quarter. Morgan Stanley raised its holdings in shares of Sogou by 155.9% in the 2nd quarter. Morgan Stanley now owns 1,532,636 shares of the company’s stock valued at $6,284,000 after purchasing an additional 933,735 shares in the last quarter. Prudential PLC acquired a new stake in shares of Sogou in the 2nd quarter valued at $3,731,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Sogou in the 2nd quarter valued at $1,464,000. Institutional investors own 6.23% of the company’s stock.

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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