JP Morgan lowered Sogou stock rating to a neutral target of $10.


JP Morgan lowered Sogou stock rating to a neutral target of $10.

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Sina Technology News Beijing time in the late August 1st news, investment bank Morgan (JPMorgan) today issued an investment research report, the NYSE: SOGO (NYSE: SOGO) rating from "increase" to "neutral", the target share price from $14 to $10.

Yesterday, Sogou released its second quarter financial report for the 2018 fiscal year ended June 30th. Total revenue of $301 million 400 thousand, an increase of 43% over the previous year, is lower than that expected by Wall Street analysts.

Net profit attributable to Sogou company was US $33 million 200 thousand, an increase of 41% over the same period last year. Based on non US GAAP, net profit attributable to Sogou company was $38 million 200 thousand, an increase of 58% over the same period last year.

Due to the relatively low performance, Sogou shares fell sharply yesterday, closing at $9.55 per share. In today's pre market trading, Sogou shares continued to fall, once reported at $8.97, a drop of nearly 3%. In the past 52 weeks, the highest stock price of Sogou was $15.50, the lowest being $7.91.

According to the data of YAHOO finance, all the 3 analysts who followed Sogou stock were given a "buy" rating. At present, the average target price of Sogou given by analysts is US $11.49. (Li Ming)


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