Sogou (SOGO) Rating Increased to Hold at Zacks Investment Research

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Sogou (NYSE:SOGO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. lowered their price target on Sogou from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 26th. ValuEngine upgraded Sogou from a “hold” rating to a “buy” rating in a research note on Monday, April 23rd. Finally, Deutsche Bank assumed coverage on Sogou in a research note on Thursday, March 15th. They set a “hold” rating and a $8.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.08.

NYSE SOGO opened at $11.36 on Wednesday. Sogou has a twelve month low of $7.91 and a twelve month high of $15.50. The stock has a market cap of $4.65 billion and a P/E ratio of 39.17.

Sogou (NYSE:SOGO) last posted its quarterly earnings data on Wednesday, April 25th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $248.38 million for the quarter, compared to analyst estimates of $227.42 million. analysts forecast that Sogou will post 0.36 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of SOGO. BlackRock Inc. bought a new position in Sogou during the fourth quarter valued at about $29,425,000. UBS Asset Management Americas Inc. bought a new stake in shares of Sogou in the 4th quarter valued at approximately $29,190,000. Wells Fargo & Company MN bought a new stake in shares of Sogou in the 4th quarter valued at approximately $14,439,000. Wafra Investment Advisory Group Inc. NY bought a new stake in shares of Sogou in the 4th quarter valued at approximately $7,962,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Sogou in the 4th quarter valued at approximately $6,420,000. Hedge funds and other institutional investors own 5.64% 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 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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