Analysts at Zacks Investment Research upgraded shares of Sohu.com Inc. (NASDAQ: SOHU) from Sell to Hold today. The company currently has a rating of Hold on the stock. A number of other analysts have spoken on the company in recent days, and the company has earned a consensus one-year price target of $46.40, above the opening price of $45.05, a difference of 10.69 percent. Sohu.com Inc. stock has a 52-week high of $59.50. Share prices often shift to the upside on recommendations and new price targets of professional analysts.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Sohu.com Inc. (NASDAQ: SOHU) shares last traded at $43.40, which represents a drop of $1.57 compared to the previous closing price. Opening at $45.05, they varied from $43.39 and $45.05 throughout the day.
Sohu.com Inc. (NASDAQ: SOHU) now has a market cap of 1.68B.
The stock’s average daily volume is 226,153 shares out of a total float 30,486,000 and some 222,759 shares traded hands yesterday, 6 percent lower than normal. Swing traders often use upticks in trading volume to pinpoint large volume growth or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of significant buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Sohu.com Inc. (NASDAQ: SOHU) have ranged from $35.65 – 59.50, and the stock now has a 50-day MA of $40.61 and 200-day MA of $42.38. Today’s last price is 0.27% below the 52 week high of $59.50.
Earnings growth is a crucial factor to consider when investing in stocks and investors look for companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.