Sogou (NYSE:SOGO) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research cut shares of Sogou (NYSE:SOGO) from a hold rating to a sell rating in a report published on Thursday morning, Zacks.com reports.

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 analysts have also recently issued reports on SOGO. JPMorgan Chase & Co. cut shares of Sogou from a neutral rating to an underweight rating and reduced their price target for the stock from $5.50 to $4.12 in a research report on Thursday, June 27th. Credit Suisse Group set a $4.00 price target on shares of Sogou and gave the stock a hold rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Sogou in a research report on Monday, August 5th. They set a hold rating and a $3.90 price target on the stock. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of Hold and an average price target of $4.96.

Shares of SOGO opened at $4.11 on Thursday. The stock has a market capitalization of $1.63 billion, a PE ratio of 14.17, a P/E/G ratio of 0.99 and a beta of 1.54. Sogou has a 1 year low of $3.25 and a 1 year high of $9.29. The company’s 50-day simple moving average is $3.95 and its 200-day simple moving average is $5.01.

Sogou (NYSE:SOGO) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. The business had revenue of $303.62 million for the quarter, compared to analysts’ expectations of $304.00 million. Sogou had a net margin of 5.99% and a return on equity of 7.98%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. On average, equities research analysts forecast that Sogou will post 0.21 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. EdgePoint Investment Group Inc. raised its holdings in Sogou by 0.3% in the second quarter. EdgePoint Investment Group Inc. now owns 8,174,980 shares of the company’s stock valued at $33,517,000 after acquiring an additional 26,026 shares in the last quarter. Alberta Investment Management Corp raised its holdings in Sogou by 270.0% in the second quarter. Alberta Investment Management Corp now owns 1,850,000 shares of the company’s stock valued at $7,585,000 after acquiring an additional 1,350,000 shares in the last quarter. Morgan Stanley raised its holdings in Sogou by 155.9% in the second quarter. Morgan Stanley now owns 1,532,636 shares of the company’s stock valued at $6,284,000 after acquiring an additional 933,735 shares in the last quarter. Krane Funds Advisors LLC raised its holdings in Sogou by 9.6% in the first quarter. Krane Funds Advisors LLC now owns 950,780 shares of the company’s stock valued at $5,648,000 after acquiring an additional 82,965 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Sogou in the second quarter valued at approximately $3,731,000. 5.77% of the stock is currently 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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