Zacks Investment Research Upgrades Fang (SFUN) to Buy

Fang (NYSE:SFUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $5.75 price objective on the information services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.94% from the company’s current price.

According to Zacks, “Fang Holdings Limited operates as a real estate Internet portal primarily in China. It provides marketing, e-commerce, listing and other value-added services for real estate and home furnishing and improvement sectors. Fang Holdings Limited, formerly known as SouFun Holdings Limited, is based in Beijing, China. “

Several other equities research analysts have also issued reports on the company. Bank of America reaffirmed a “buy” rating and set a $4.63 price target (down previously from $5.30) on shares of Fang in a research note on Tuesday, December 26th. ValuEngine lowered Fang from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, BidaskClub raised Fang from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Fang currently has a consensus rating of “Hold” and a consensus price target of $4.96.

Shares of Fang (SFUN) opened at $5.23 on Wednesday. The stock has a market capitalization of $2,310.00, a price-to-earnings ratio of -261.50 and a beta of 1.55. Fang has a 52 week low of $2.46 and a 52 week high of $5.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.03 and a current ratio of 1.03.

Fang (NYSE:SFUN) last posted its quarterly earnings data on Friday, November 17th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The company had revenue of $112.20 million during the quarter, compared to analyst estimates of $106.39 million. Fang had a negative return on equity of 3.20% and a negative net margin of 1.83%. The firm’s quarterly revenue was down 55.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. equities analysts expect that Fang will post 0.08 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in shares of Fang by 29.3% in the fourth quarter. Bank of Montreal Can now owns 158,620 shares of the information services provider’s stock worth $885,000 after buying an additional 35,987 shares during the period. California Public Employees Retirement System increased its holdings in shares of Fang by 106.5% in the third quarter. California Public Employees Retirement System now owns 392,990 shares of the information services provider’s stock worth $1,592,000 after buying an additional 202,690 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Fang in the third quarter worth about $433,000. Dimensional Fund Advisors LP purchased a new position in shares of Fang in the third quarter worth about $1,984,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Fang by 107.6% in the third quarter. JPMorgan Chase & Co. now owns 2,217,737 shares of the information services provider’s stock worth $8,871,000 after buying an additional 1,149,387 shares during the period. Hedge funds and other institutional investors own 45.34% of the company’s stock.

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About Fang

Fang Holdings Limited, formerly SouFun Holdings Limited, operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China.

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