Sohu.com (SOHU) Shares Gap Down After Earnings Miss

Shares of Sohu.com Inc (NASDAQ:SOHU) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $37.21, but opened at $39.01. Sohu.com shares last traded at $38.61, with a volume of 701017 shares.

The information services provider reported ($2.01) earnings per share for the quarter, missing the consensus estimate of ($1.44) by ($0.57). Sohu.com had a negative net margin of 18.51% and a negative return on equity of 21.72%. The company had revenue of $509.60 million during the quarter, compared to analysts’ expectations of $522.66 million. During the same quarter last year, the business posted ($1.79) earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year.

SOHU has been the topic of several analyst reports. Zacks Investment Research downgraded Sohu.com from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 31st. Deutsche Bank downgraded Sohu.com from a “buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a research note on Monday, October 30th. TheStreet downgraded Sohu.com from a “c-” rating to a “d+” rating in a research note on Friday, December 8th. Finally, ValuEngine upgraded Sohu.com from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $58.00.

Institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC boosted its stake in shares of Sohu.com by 74.8% in the third quarter. Penserra Capital Management LLC now owns 59,046 shares of the information services provider’s stock valued at $3,215,000 after buying an additional 25,272 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in shares of Sohu.com in the third quarter valued at approximately $349,000. State Street Corp boosted its stake in shares of Sohu.com by 1.9% in the second quarter. State Street Corp now owns 166,380 shares of the information services provider’s stock valued at $7,499,000 after buying an additional 3,111 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sohu.com by 403.9% in the third quarter. JPMorgan Chase & Co. now owns 52,388 shares of the information services provider’s stock valued at $2,810,000 after buying an additional 41,991 shares in the last quarter. Finally, Maso Capital Partners Ltd purchased a new stake in shares of Sohu.com in the third quarter valued at approximately $3,839,000. Hedge funds and other institutional investors own 63.29% of the company’s stock.

The stock has a market capitalization of $1,800.60, a P/E ratio of -4.58 and a beta of 1.28.

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About Sohu.com

Sohu.com Inc (Sohu) is an online media, search and game service company, which is engaged in providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment.

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