Sogou (SOGO) Sees Unusually-High Trading Volume

Sogou (NYSE:SOGO) shares saw strong trading volume on Thursday . 728,625 shares changed hands during trading, a decline of 64% from the previous session’s volume of 2,004,327 shares.The stock last traded at $8.28 and had previously closed at $8.59.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Sogou from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Wednesday, March 14th. Deutsche Bank assumed coverage on shares of Sogou in a research report on Thursday, March 15th. They set a “hold” rating and a $8.00 price target for the company.

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The stock has a market capitalization of $3,411.65 and a PE ratio of 28.00.

Sogou (NYSE:SOGO) last issued its quarterly earnings data 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 analyst estimates of $267.56 million. analysts anticipate that Sogou will post 0.37 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of SOGO. J. Goldman & Co LP purchased a new stake in Sogou in the 4th quarter worth approximately $3,709,000. William Blair Investment Management LLC purchased a new stake in Sogou in the 4th quarter worth approximately $6,420,000. Element Capital Management LLC purchased a new stake in Sogou in the 4th quarter worth approximately $2,522,000. Macquarie Group Ltd. purchased a new stake in Sogou in the 4th quarter worth approximately $640,000. Finally, Zimmer Partners LP purchased a new stake in Sogou in the 4th quarter worth approximately $1,157,000. Hedge funds and other institutional investors own 7.99% of the company’s stock.

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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 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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