Zacks Investment Research upgraded shares of Changyou.Com (NASDAQ:CYOU) from a hold rating to a buy rating in a report published on Monday morning. They currently have $20.00 target price on the technology company’s stock.
According to Zacks, “Changyou.com Limited is a developer and operator of online games in China. It engages in the development, operation, and licensing of massively multi-player online role-playing games, which are interactive online games that are played simultaneously by various game players. The company currently operates two multi-player online role-playing games (MMORPGs), including the in-house developed Tian Long Ba Bu and the licensed Blade Online. Changyou.com has three MMORPGs in the pipeline, which include the Duke of Mount Deer, Immortal Faith, and the Legend of the Ancient World. Based in Beijing, the People’s Republic of China, Changyou.com Limited is a subsidiary of Sohu.com Inc. “
Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Changyou.Com from a strong-buy rating to a buy rating in a report on Friday, January 4th. ValuEngine cut shares of Changyou.Com from a hold rating to a sell rating in a report on Friday, January 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $30.08.
CYOU traded up $0.16 during midday trading on Monday, hitting $18.22. The company had a trading volume of 8,776 shares, compared to its average volume of 183,330. Changyou.Com has a 52 week low of $12.68 and a 52 week high of $37.63. The company has a market cap of $954.20 million, a P/E ratio of 8.81 and a beta of 0.66.
Changyou.Com (NASDAQ:CYOU) last posted its quarterly earnings results on Monday, November 5th. The technology company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.59. Changyou.Com had a net margin of 21.15% and a return on equity of 10.11%. The firm had revenue of $117.96 million during the quarter, compared to the consensus estimate of $108.70 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. The business’s revenue was down 28.8% compared to the same quarter last year. As a group, analysts forecast that Changyou.Com will post 1.5 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Changyou.Com by 327.2% during the third quarter. US Bancorp DE now owns 8,357 shares of the technology company’s stock valued at $110,000 after buying an additional 6,401 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Changyou.Com by 265.1% during the third quarter. Wells Fargo & Company MN now owns 12,998 shares of the technology company’s stock valued at $172,000 after buying an additional 9,438 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Changyou.Com during the third quarter valued at about $246,000. Strs Ohio boosted its holdings in Changyou.Com by 13.7% during the third quarter. Strs Ohio now owns 81,841 shares of the technology company’s stock worth $1,080,000 after purchasing an additional 9,841 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Changyou.Com during the third quarter worth about $1,189,000. Hedge funds and other institutional investors own 25.35% of the company’s stock.
Changyou.com Limited develops and operates online games in the People's Republic of China. The company operates through Online Game, Platform Channel, and Others segments. It develops, operates, and licenses online games, including interactive online games that are accessed and played simultaneously by various game players through personal computers; and mobile games played on mobile devices.
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