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Thanks to a better fundamental star rating, SOHU.COM LTD - ADR sees an...
The independent financial analyst theScreener just awarded an improved star rating to SOHU.COM LTD - ADR (US), active in the Internet industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 3 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as moderately risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date January 25, 2022, th...
- MarketLine Department
Bitauto Holdings Limited - Mergers & Acquisitions (M&A), Partnerships ...
Summary Marketline's Bitauto Holdings Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Bitauto Holdings Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of...
- MarketLine Department
Naver Corporation - Mergers & Acquisitions (M&A), Partnerships & Allia...
Summary Marketline's Naver Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Naver Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic a...
- MarketLine Department
TOM Group Limited - Mergers & Acquisitions (M&A), Partnerships & Allia...
Summary Marketline's TOM Group Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by TOM Group Limited since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic an...
- Jennifer Song
Morningstar | Dropping Coverage of No-Moat Sohu
We are dropping coverage of no-moat Sohu. We maintain our view that the company will not be able to make a profit on a net basis until 2021, given the intense competition amid saturation of mobile users in China and the absence of a moat. In the third quarter, although Sohu’s key mobile apps gained daily active users (20% in September) and time spent, and its video paying user base is growing slowly, brand advertising revenue was down 24% year over year versus negative 29% in the second quart...
- Jennifer Song
Morningstar | Sohu Is Undervalued as Its Business Improves From a Very...
We plan to maintain our fair value estimate for no-moat Sohu at $48.50 per share as our fourth-quarter estimates are broadly in line with guidance. We maintain our view that the company will not be able to make a profit on a net basis until 2021. Sohu appears undervalued, as we think reduced content costs and head count will eventually help the company to reach profitability, although this will take time as it needs to improve the mobile apps and the existing advertising system. Sohu's revenue ...
- Jennifer Song
Sohu Is Undervalued as Its Business Improves From a Very Low Base
We plan to maintain our fair value estimate for no-moat Sohu at $48.50 per share as our fourth-quarter estimates are broadly in line with guidance. We maintain our view that the company will not be able to make a profit on a net basis until 2021. Sohu appears undervalued, as we think reduced content costs and head count will eventually help the company to reach profitability, although this will take time as it needs to improve the mobile apps and the existing advertising system. Sohu's revenue ...
- Jennifer Song
Morningstar | Cut Sohu's FVE to USD 48.5, Following Weak 2Q Earnings a...
We lower no-moat Sohu's fair value estimate to USD 48.5 per share from USD 64.0, following the company's weak second-quarter results and disappointing third-quarter guidance. Net revenue growth slowed to 5.4% in the second quarter from 21.6% in the first quarter, with weakness spreading across all non-Sogou segments--Sohu Media portal, Sohu Video, and its online game subsidiary Changyou. Sogou continued to be the growth driver, with a decent 43% year-over-year revenue growth in U.S. dollars and ...
- Jennifer Song
Morningstar | Cut Sohu's FVE to USD 48.5, Following Weak 2Q Earnings a...
We lower no-moat Sohu's fair value estimate to USD 48.5 per share from USD 64.0, following the company's weak second-quarter results and disappointing third-quarter guidance. Net revenue growth slowed to 5.4% in the second quarter from 21.6% in the first quarter, with weakness spreading across all non-Sogou segments--Sohu Media portal, Sohu Video, and its online game subsidiary Changyou. Sogou continued to be the growth driver, with a decent 43% year-over-year revenue growth in U.S. dollars and ...
- Jennifer Song
Cut Sohu's FVE to USD 48.5, Following Weak 2Q Earnings and Disappointi...
We lower no-moat Sohu's fair value estimate to USD 48.5 per share from USD 64.0, following the company's weak second-quarter results and disappointing third-quarter guidance. Net revenue growth slowed to 5.4% in the second quarter from 21.6% in the first quarter, with weakness spreading across all non-Sogou segments--Sohu Media portal, Sohu Video, and its online game subsidiary Changyou. Sogou continued to be the growth driver, with a decent 43% year-over-year revenue growth in U.S. dollars and ...
- Chelsey Tam
Morningstar | Sohu's growth largely depends on its Sogou business and ...
Sohu is one of the earliest Internet services providers in China with three key businesses: media, search, and online games. With the trend of Internet traffic shifting to mobile devices, we think Sohu has lagged behind, and its media services are facing a tough time. Sogou, Sohu’s paid search joint venture with Tencent, is the bright spot; it has made significant progress in terms of both traffic growth and monetization. The successful release of Legacy TLBB Mobile in mid-May 2017 was a boost...
- Chelsey Tam
Sohu's growth largely depends on its Sogou business and the launch of ...
We have upgraded our DCF-generated fair value estimate for Sohu to $64 per ADR from $54. We now expect that Sohu’s net income to shareholders will become positive starting in 2021, as opposed to 2024 previously, owing to more upbeat management guidance and more details on plans to revive the Sohu media and video businesses. The shares are currently undervalued, and we think the key catalyst is the improved profitability of the Sohu Media and video business. We maintain our very high uncertaint...
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