Sogou (SOGO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Sogou (NYSE:SOGO) from a buy rating to a hold rating in a research report report published on Saturday.

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. “

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Several other research analysts also recently weighed in on SOGO. Credit Suisse Group initiated coverage on shares of Sogou in a report on Monday, December 4th. They set an outperform rating and a $16.30 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of Sogou in a report on Thursday, December 7th. They set an overweight rating and a $17.00 price objective on the stock. Finally, Deutsche Bank initiated coverage on shares of Sogou in a report on Thursday, March 15th. They set a hold rating and a $8.00 price objective on the stock.

SOGO stock opened at $8.32 on Friday. Sogou has a 12 month low of $8.08 and a 12 month high of $14.70.

Sogou (NYSE:SOGO) last issued its earnings results on Monday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The company had revenue of $277.79 million for the quarter, compared to the consensus estimate of $267.56 million. equities analysts anticipate that Sogou will post 0.37 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates acquired a new position in Sogou during the fourth quarter worth $179,000. Virtu Financial LLC acquired a new position in Sogou during the fourth quarter worth $223,000. Two Sigma Investments LP acquired a new position in Sogou during the fourth quarter worth $296,000. FNY Managed Accounts LLC acquired a new position in Sogou during the fourth quarter worth $363,000. Finally, Deutsche Bank AG acquired a new position in Sogou during the fourth quarter worth $443,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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About Sogou

Sogou Inc is a search and Internet company. The Company’s Sogou Search is a search engine in China. Its cross-language search service enables users to discover English content on the Internet by querying in Chinese and reading content that it has translated into Chinese. The Company’s products and services include Sogu Search, Sogou Input Method and other products.

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