Zacks Investment Research upgraded shares of SouFun Holdings Ltd. (NYSE:SFUN) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $5.00 price target on the stock.
According to Zacks, “SouFun Holdings Limited is a real estate Internet portal and home furnishing and improvement website in China. SouFun obtains its advertisements from online real estate advertisers. It has built a large and active community of users who are attracted by the comprehensive real estate, home furnishing and improvement content available on its portal which form the foundation of the Company’s service offerings. SouFun maintains many offices in order to focus on local market needs and covers many cities providing real estate-related content, search services, marketing and listing services in China. SouFun Holdings Limited is headquartered in Beijing, China. “
Several other brokerages also recently commented on SFUN. Nomura reduced their target price on SouFun Holdings from $7.94 to $6.79 and set a buy rating on the stock in a report on Wednesday, August 10th. Brean Capital initiated coverage on SouFun Holdings in a report on Tuesday, June 7th. They issued a hold rating on the stock. JPMorgan Chase & Co. reissued a neutral rating and issued a $4.50 target price on shares of SouFun Holdings in a report on Wednesday, August 31st. Credit Agricole SA downgraded SouFun Holdings from an underperform rating to a sell rating and reduced their target price for the stock from $6.00 to $4.50 in a report on Friday, August 26th. Finally, TheStreet downgraded SouFun Holdings from a hold rating to a sell rating in a report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $6.22.
SouFun Holdings (NYSE:SFUN) last released its quarterly earnings data on Thursday, August 25th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $287 million for the quarter, compared to the consensus estimate of $269.76 million. SouFun Holdings had a negative return on equity of 38.20% and a negative net margin of 18.43%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Alta Advisers Ltd boosted its stake in shares of SouFun Holdings by 157.5% in the second quarter. Alta Advisers Ltd now owns 22,400 shares of the company’s stock valued at $113,000 after buying an additional 13,700 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of SouFun Holdings by 128.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,800 shares of the company’s stock valued at $115,000 after buying an additional 12,800 shares during the last quarter. DIAM Co. Ltd. boosted its stake in shares of SouFun Holdings by 112.7% in the second quarter. DIAM Co. Ltd. now owns 23,400 shares of the company’s stock valued at $116,000 after buying an additional 12,400 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of SouFun Holdings during the first quarter valued at approximately $125,000. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of SouFun Holdings during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 51.69% of the company’s stock.
SouFun Holdings Company Profile
SouFun Holdings Limited operates as a real estate Internet portal in China. The Company’s Websites and mobile applications support active online communities and networks of users seeking information on, and services for, the real estate and home-related sectors in China. The Company, through its Internet platform, is engaged in the development of transaction and financing platforms by offering direct sales services for new homes, online real estate brokerage services and financial services.
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