Credit Suisse began coverage on shares of Qihoo 360 Technology (NASDAQ:QIHU) in a report released on Thursday, TheFlyOnTheWall.com reports. The firm issued a neutral rating on the stock.
Credit Suisse has also modified their ratings on a number of other stocks in the few days. The firm downgraded shares of Targa Resources Partners LP from an outperform rating to a neutral rating. Also, Credit Suisse upgraded shares of DCP Midstream Partners, LP from an underperform rating to a neutral rating. Finally, Credit Suisse downgraded shares of SunoCo Logistics Partners LP from an outperform rating to a neutral rating.
Shares of Qihoo 360 Technology (NASDAQ:QIHU) traded up 1.26% during mid-day trading on Thursday, hitting $84.99. 1,815,622 shares of the company’s stock traded hands. Qihoo 360 Technology has a 1-year low of $20.01 and a 1-year high of $94.90. The stock has a 50-day moving average of $80.06 and a 200-day moving average of $51.86. The company has a market cap of $10.142 billion and a price-to-earnings ratio of 168.87.
Qihoo 360 Technology (NASDAQ:QIHU) last issued its quarterly earnings data on Monday, August 26th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.26 by $0.14. The company had revenue of $151.70 million for the quarter, compared to the consensus estimate of $144.19 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 108.4% on a year-over-year basis. On average, analysts predict that Qihoo 360 Technology will post $1.29 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on QIHU. Analysts at JPMorgan Chase & Co. reiterated a buy rating on shares of Qihoo 360 Technology (NASDAQ:QIHU) in a research note to investors on Tuesday, September 17th. They now have a $94.00 price target on the stock. Separately, analysts at Maxim Group raised their price target on shares of Qihoo 360 Technology (NASDAQ:QIHU) from $85.00 to $96.00 in a research note to investors on Tuesday, September 17th. They now have a buy rating on the stock. Finally, analysts at TheStreet upgraded shares of Qihoo 360 Technology (NASDAQ:QIHU) from a hold rating to a buy rating in a research note to investors on Friday, August 30th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $75.07.
Qihoo 360 Technology Co Ltd (NASDAQ:QIHU), formerly Qihoo Technology Company Limited, is engaged in the operations of Internet services and sales of third party anti-virus software in the People’s Republic of China.
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