Sogou (SOGO) Issues Earnings Results

Sogou (NYSE:SOGO) posted its earnings results on Monday. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06, Briefing.com reports. The business had revenue of $276.57 million for the quarter, compared to the consensus estimate of $281.19 million. Sogou’s revenue for the quarter was up 7.5% on a year-over-year basis. Sogou updated its Q4 2018 guidance to EPS.

Shares of NYSE SOGO opened at $6.00 on Monday. The company has a market capitalization of $2.51 billion and a PE ratio of 20.69. Sogou has a 52-week low of $5.38 and a 52-week high of $15.50.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC acquired a new position in shares of Sogou during the 1st quarter valued at $189,000. Marshall Wace LLP acquired a new position in shares of Sogou during the 2nd quarter valued at $285,000. Raymond James & Associates lifted its position in shares of 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 acquiring an additional 7,800 shares during the period. NumerixS Investment Technologies Inc lifted its position in shares of 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 acquiring an additional 21,400 shares during the period. Finally, UBS Group AG lifted its position in shares of 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 acquiring an additional 44,571 shares during the period. Hedge funds and other institutional investors own 5.61% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Sogou from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Deutsche Bank downgraded shares of Sogou from a “hold” rating to a “sell” rating and set a $8.20 price target on the stock. in a research report on Tuesday, July 31st. ValuEngine downgraded shares of Sogou from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of Sogou from an “overweight” rating to a “neutral” rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.13.

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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