Sogou (NYSE:SOGO) Hits New 12-Month Low at $2.99

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Shares of Sogou Inc (NYSE:SOGO) hit a new 52-week low during trading on Friday . The company traded as low as $2.99 and last traded at $2.99, with a volume of 22615 shares trading hands. The stock had previously closed at $3.17.

Several analysts have recently weighed in on the company. ValuEngine cut Sogou from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Goldman Sachs Group raised shares of Sogou from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Credit Suisse Group downgraded shares of Sogou from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 10th. Finally, Zacks Investment Research upgraded shares of Sogou from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.13.

The stock has a 50 day moving average of $3.42 and a 200 day moving average of $4.30. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 4.01 and a beta of 1.05.

Sogou (NYSE:SOGO) last issued its quarterly earnings results on Monday, May 18th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Sogou had a net margin of 5.21% and a return on equity of 6.98%. The firm had revenue of $257.28 million for the quarter. On average, research analysts anticipate that Sogou Inc will post 0.12 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Sogou by 161.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,063,016 shares of the company’s stock valued at $9,387,000 after acquiring an additional 1,273,216 shares during the last quarter. Norges Bank acquired a new position in shares of Sogou in the 4th quarter valued at about $4,484,000. BNP Paribas Arbitrage SA boosted its position in shares of Sogou by 2,586.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 925,100 shares of the company’s stock valued at $3,108,000 after purchasing an additional 890,660 shares in the last quarter. Krane Funds Advisors LLC grew its stake in Sogou by 77.0% during the fourth quarter. Krane Funds Advisors LLC now owns 1,253,906 shares of the company’s stock worth $5,705,000 after purchasing an additional 545,609 shares during the period. Finally, Prudential PLC increased its holdings in Sogou by 33.4% in the first quarter. Prudential PLC now owns 1,261,292 shares of the company’s stock worth $4,238,000 after purchasing an additional 316,134 shares in the last quarter. Institutional investors and hedge funds own 5.09% of the company’s stock.

About Sogou (NYSE:SOGO)

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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