Sogou (NYSE:SOGO) Upgraded at Zacks Investment Research

Sogou (NYSE:SOGO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $6.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.50% from the stock’s previous close.

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 raised Sogou from a “neutral” rating to an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group raised Sogou from a “hold” rating to a “buy” rating in a report on Monday. Finally, 86 Research cut Sogou from an “accumulate” rating to a “hold” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $4.92.

Shares of Sogou stock opened at $5.43 on Wednesday. The business has a 50 day simple moving average of $4.90 and a two-hundred day simple moving average of $4.68. Sogou has a 12 month low of $3.25 and a 12 month high of $7.12. The stock has a market capitalization of $2.13 billion, a P/E ratio of 18.72, a PEG ratio of 0.86 and a beta of 1.38.

Sogou (NYSE:SOGO) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Sogou had a return on equity of 9.10% and a net margin of 6.89%. The business had revenue of $314.90 million during the quarter, compared to analysts’ expectations of $309.07 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts forecast that Sogou will post 0.23 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in Sogou during the third quarter worth $207,000. State Street Corp increased its stake in Sogou by 153.0% during the third quarter. State Street Corp now owns 33,585 shares of the company’s stock worth $166,000 after acquiring an additional 20,312 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in Sogou by 0.5% during the third quarter. EdgePoint Investment Group Inc. now owns 8,212,477 shares of the company’s stock worth $40,570,000 after acquiring an additional 37,497 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Sogou by 51.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,294 shares of the company’s stock worth $56,000 after acquiring an additional 3,843 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Sogou by 88.7% during the third quarter. California Public Employees Retirement System now owns 106,246 shares of the company’s stock worth $525,000 after acquiring an additional 49,956 shares during the last quarter. 6.17% 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 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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