Credit Suisse Group Lowers Sogou (SOGO) to Neutral

Sogou (NYSE:SOGO) was downgraded by Credit Suisse Group from an “outperform” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat reports.

A number of other equities research analysts also recently commented on SOGO. ValuEngine downgraded Sogou from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Deutsche Bank downgraded Sogou from a “hold” rating to a “sell” rating and set a $8.20 price objective for the company. in a research report on Tuesday, July 31st. Zacks Investment Research downgraded Sogou from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Finally, JPMorgan Chase & Co. downgraded Sogou from an “overweight” rating to a “neutral” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Sogou presently has an average rating of “Hold” and an average target price of $12.13.

Shares of NYSE:SOGO opened at $6.30 on Monday. Sogou has a one year low of $5.38 and a one year high of $15.50. The firm has a market cap of $2.51 billion and a PE ratio of 21.72.

Sogou (NYSE:SOGO) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $276.57 million for the quarter, compared to analyst estimates of $281.19 million. The company’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Sogou will post 0.23 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. Guggenheim Capital LLC acquired a new stake in Sogou during the 1st quarter valued at $189,000. Marshall Wace LLP acquired a new stake in Sogou during the 2nd quarter valued at $285,000. Raymond James & Associates raised its stake in Sogou by 36.3% during the 2nd quarter. Raymond James & Associates now owns 29,300 shares of the company’s stock valued at $335,000 after purchasing an additional 7,800 shares during the period. NumerixS Investment Technologies Inc raised its stake in Sogou by 93.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 44,300 shares of the company’s stock valued at $503,000 after purchasing an additional 21,400 shares during the period. Finally, UBS Group AG raised its stake in Sogou by 2,945.9% during the 1st quarter. UBS Group AG now owns 46,084 shares of the company’s stock valued at $380,000 after purchasing an additional 44,571 shares during the period. 5.61% of the stock is currently owned by institutional investors.

Sogou Company Profile

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 mobile and PC MAUs. 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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