Citigroup Reiterates Buy Rating for Sohu.com (NASDAQ:SOHU)

Key Points

• Citigroup raised its price target for Sohu.com (NASDAQ:SOHU) from $17.00 to $20.00, suggesting a potential upside of 38.60% from the current stock price.
• Sohu.com shares are currently down 6.3%, with a trading price of $14.43, reflecting significant movement in the stock recently.
• Several institutional investors, including Goldman Sachs and Russell Investments, have increased their stakes in Sohu.com, indicating growing investor confidence in the company.

Sohu.com (NASDAQ:SOHU - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Citigroup in a research note issued on Monday, MarketBeat.com reports. They currently have a $20.00 price objective on the information services provider's stock, up from their previous price objective of $17.00. Citigroup's price target would suggest a potential upside of 29.62% from the company's current price.

Separately, Wall Street Zen raised Sohu.com from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th.

Sohu.com Trading Down 2.0%

Shares of NASDAQ:SOHU traded down $0.31 on Monday, reaching $15.43. 23,386 shares of the company's stock were exchanged, compared to its average volume of 100,504. The company has a fifty day moving average of $13.14 and a 200-day moving average of $12.41. The company has a market capitalization of $463.98 million, a price-to-earnings ratio of 3.70 and a beta of 0.30. Sohu.com has a twelve month low of $7.79 and a twelve month high of $17.24.

Sohu.com (NASDAQ:SOHU - Get Free Report) last announced its earnings results on Monday, August 4th. The information services provider reported ($0.69) earnings per share (EPS) for the quarter. The company had revenue of $126.27 million for the quarter. Sohu.com had a negative return on equity of 6.37% and a net margin of 22.70%.

Hedge Funds Weigh In On Sohu.com

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its stake in Sohu.com by 47.1% in the 2nd quarter. Acadian Asset Management LLC now owns 979,430 shares of the information services provider's stock worth $13,008,000 after purchasing an additional 313,572 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Sohu.com in the 2nd quarter worth about $184,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Sohu.com by 7.5% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 68,476 shares of the information services provider's stock worth $911,000 after acquiring an additional 4,794 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Sohu.com by 21.8% during the first quarter. Goldman Sachs Group Inc. now owns 51,197 shares of the information services provider's stock valued at $674,000 after purchasing an additional 9,168 shares during the last quarter. Finally, Strs Ohio bought a new position in Sohu.com during the first quarter valued at approximately $1,379,000. 33.02% of the stock is owned by hedge funds and other institutional investors.

Sohu.com Company Profile

Sohu.com Limited engages in the provision of online media, video, and game products and services on personal computers (PCs) and mobile devices in China. It operates through two segments: Sohu and Changyou. The company offers online news, information, and content services through the mobile phone application Sohu News APP, mobile portal m.sohu.com, and www.sohu.com for PCs; and online video content and services through mobile phone application Sohu Video APP and tv.sohu.com, as well as ifox, a video application for PC.