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at CNBC.com (Oct 9, 2014)
at Fox Business (Oct 3, 2014)
at Fox Business (Sep 29, 2014)
at Fox Business (Sep 3, 2014)
at CNBC.com (Aug 25, 2014)
at MarketWatch.com (Jul 16, 2014)
at MarketWatch.com (Jun 15, 2014)
at MarketWatch.com (May 28, 2014)
at MarketWatch.com (May 27, 2014)
at CNBC.com (May 8, 2014)
- Qihoo stock closed Thursday at $67.60 a share, well below its 52 week high.
- I wrote a bullish article last month saying that the stock was a very good buy. The stock price was around $67 then as well.
- I still think the stock is very cheap and that buying now can lead to high returns in the future.
Qihoo Q3 Earnings Preview: Why Company Looks To Prove Analysts Wrong Once Again
- Analysts' recent price cuts still offer investors with more than 50% in upside potential.
- Qihoo has met or exceeded analyst estimates for the last eight quarters and looks poised to keep that streak going.
- Why I'm a buyer before earnings are released next week.
- Qihoo was recently slammed in a Barron's article without much analysis of the argument.
- Management has addressed worries over margin pressures.
- A $200M share buyback points to management's confidence in their strategy.
- Since reporting Q2 results, shares of Qihoo 360 have lost almost 35% of their value.
- Were earnings really bad enough to justify this share price implosion?
- The future looks bright and investors should take advantage of the buying opportunity.
- Qihoo 360 experienced a sharp drop after reporting second quarter earnings.
- The company announced a $200 million share buyback program which should help protect the stock from further downside.
- A look at a P/S ratio chart reveals where the potential bottom is.
Qihoo: Is Second Place In Search Enough For Higher Stock Prices?
- Qihoo continues to produce fast growth in several different product categories.
- Qihoo is behind the curve on the shift to mobile search in China and trails Baidu by a wide margin on search monetization.
- Stock is attractively priced based on estimates, but concerns exist regarding the future growth potential of the second largest player in Chinese search.
Qihoo 360 Growth Story Still Going Strong With Dips Representing Buying Opportunities
- Qihoo 360 continues the hot growth story with doubling revenue and almost doubling online advertising revenue.
- Already reached goal of 30% Internet search market share in China four months ahead of schedule.
- Increased costs can be minimized with lower one-time items, and earnings and margins will get back in line with revenues.
- Qihoo 360 still a strong play in the Chinese Internet market even with increased competition from larger companies such as Baidu, Alibaba and Tencent.
- QIHU beat earnings and sales expectations and gave guidance.
- Margins are compressing and the company is facing increasing competition.
- Management has avenues to expand the business through entering the enterprise market.
- Qihoo reported Q2 earnings and revenue ahead of analyst estimates.
- Management guided Q3 revenue above views.
- The company reached 30% search market share four months ahead of schedule.
- Reiterating my bullish view on Qihoo with substantial upside potential.
- Qihoo will report 2Q14 before market opens on Monday.
- Search and mobile is expected to maintain their strong growth profile.
- MediaV a near-term pain but long-term impact is attractive. Remain bullish on the stock.
- Qihoo seems to have digested its move down in the last couple of months and might be ready to rally.
- The company has done a note offering which means that a major acquisition may be in the making.
- Comparing Qihoo’s valuation to Baidu's reveals which stock has potential for more gains in the next couple of months.
Qihoo 360: New Analyst Coverage And Why You Should Buy The Dips And Let 'Em Rip
- Thomas Chong, an analyst at Citigroup, initiated coverage of Qihoo 360 with a BUY rating and $114.10 price target.
- Why I strongly believe Chong is undervaluing Qihoo by at least 30%.
- Baidu's recent post earnings blowout, suggests other players like Qihoo will benefit greatly over the coming quarters.
Analysts Are Wrong About Qihoo 360: Strong Growth Provides Investors A Great Buying Opportunity With 65% Upside
- Analysts' price cuts do not accurately reflect and justify the future growth that is ahead of Qihoo 360.
- Learning from history: Analysts are usually late to the party and this time is no different.
- Qihoo 360 reported strong earnings on both the top and bottom lines in May and looks poised to continue doing so over the next couple of years.
- Shares of Qihoo 360 are highly undervalued and have upside of more than 65%.
Qihoo 360 Q1 Earnings Preview: Should Investors Buy, Sell, Or Hold Into Earnings?
- After beating the top and bottom lines over the past three quarters, will Qihoo 360 be able do it once again?
- Many Chinese companies have reported strong earnings. Is this a telling sign for Qihoo 360?
- Qihoo 360's past should give investors plenty of confidence heading into earnings on Tuesday.
Ride The Chinese Internet Surge With Baidu And Qihoo 360 Despite Recent Sell-Off
- Chinese Internet adoption in 2013 is about 42.3%, which is an increase from 28.9% in 2009.
- Based on current trends, the percentage of people in China using the Internet will reach 78% by 2020.
- Baidu and Qihoo 360 are the dominant Internet companies in terms of search and Internet security.
- The recent sell off of both companies (especially Qihoo) may provide a buying opportunity for a long-term play.
- Both Baidu and Qihoo have fallen since I suggested that selling Qihoo and buying Baidu might be a better way to profit in the future.
- Since Qihoo has fallen much more than Baidu, the reward/risk proposition has changed and it might be prudent to consider a long position in Qihoo and stay long Baidu.
- The growth outlook for both companies has improved in the last two months.
Tue, Sep. 23, 5:35 PM
Fri, Sep. 19, 12:44 PM
- Whether it's a case of selling on the news, freeing up capital to buy Alibaba shares, or a mixture of the two, a slew of Chinese Internet stocks are selling off as Alibaba (though off its highs) registers a 30%+ post-IPO gain.
- Baidu (BIDU -2.2%) and JD.com (JD -4.5%), both of which rallied yesterday, are among the decliners. Others: QIHU -2.7%. SFUN -3%. EJ -2.7%. YY -2.1%. WB -2.3%. WUBA -6.3%. MOBI -6.4%. CMGE -6.5%.
Mon, Sep. 15, 1:21 PM
- Maybe looking to raise cash with which to buy Alibaba (Pending:BABA) this week, investors are dumping a wide swath of other Chinese internet names.
- Qihoo (QIHU -2.6%), Sohu.com (SOHU -5.3%), Baidu (BIDU -3.8%), Sina (SINA -4.9%), Renren (RENN -4%), Weibo (WB -11.3%), YY (YY -7.3%).
- Previously: Alibaba to boost IPO size
Tue, Aug. 26, 10:54 AM
- Citing soft mobile search traffic and competition, Credit Suisse has downgraded Qihoo (QIHU -2.8%) to Neutral a day after the company sold off due to the margin concerns triggered by its Q2 report.
- On the CC (transcript), CEO Hongyi Zhou said is "making [a] strategic shift in focus on resources to mobile search," and is aiming for its mobile search share to match its PC share over the long-term.
- CFO Alex Xu stated mobile now accounts for a "low-teen to mid-teen" percentage of Qihoo's search traffic, up from ~5% at the beginning of 2014, and that the company is aiming to raise this figure to 25% by year's end.
Mon, Aug. 25, 1:11 PM
- Though Qihoo (NYSE:QIHU) beat Q2 estimates and offered above-consensus Q3 sales guidance, its gross margin fell to 79.1% from 79.5% in Q1 and 88.3% a year ago. In addition, opex rose 19% Q/Q and 114% Y/Y to $208.3M on the back of a 254% Y/Y increase in sales/marketing spend.
- Online ad revenue +22.3% Q/Q and +89% Y/Y to $171.3M thanks to search and mobile ad growth. Internet value-added service revenue +17.2% Q/Q and +140% Y/Y thanks to PC/mobile gaming growth.
- Total monthly active users of Qihoo's PC products totaled 496M in June, up from 497M in March and 461M a year ago. Smartphone users of Qihoo's 360 Mobile Safe app rose to 641M from 538M in March and 338M a year ago.
- Daily unique visitors for Qihoo's 360 browser home page grew to 128M in Q2 from 122M in Q1 and 114M a year ago. Average daily clicks for the page grew totaled 749M, up from 590M a year ago but down from 772M in Q1.
- Citi estimates PC search revenue (boosted by share gains) rose 52% Q/Q to $62M (20% of total revenue), and that mobile revenue rose 16% Q/Q to $68M, with 67% coming from games. At the same time, it expects heavy spend to result in op. margin falling to 25% in 2014 from 34% in 2013.
- Q2 results, PR
Mon, Aug. 25, 12:46 PM
Mon, Aug. 25, 9:11 AM
Mon, Aug. 4, 10:20 AM
- The Chinese government's procurement agency has warned departments not to use antivirus software from Symantec (SYMC -0.6%) and fellow U.S. supplier Kaspersky Lab.
- Qihoo (QIHU +3.4%), which has a giant share of the Chinese antivirus software market, is rallying, though it's worth noting several other Chinese tech companies are also doing well.
- Previously, China's Public Security Ministry had warned Symantec's Data Loss Prevention software had security loopholes that could enable outside access. As in several other regions, NSA-related tensions have been running high in the Middle Kingdom. Local authorities have also launched an anti-monopoly probe against Microsoft.
- The whole of Asia-Pac accounted for 17% of Symantec's FQ4 revenue. FQ1 results arrive on Wednesday.
Fri, Jul. 25, 5:32 PM
- Goldman has raised its 2014-2016 Baidu (BIDU +10.9%) EPS estimates by 17%-23% following its sizable Q2 EPS beat and above-consensus Q3 guidance, and hiked its target by $35 to $260. BofA/Merrill, Deutsche, and Piper have also raised their Baidu PTs.
- Goldman was pleased with several datapoints provided in the Q2 report and CC (transcript). Among them: 1) Baidu topped 500M mobile search monthly active users (MAUs) in June. 2) Maps MAUs have passed 200M. 3) Baidu's app distribution platforms (led by 91 Wireless) averaged 130M downloads/day in Q2. 4) The Nuomi daily deals unit (acquired from Renren) has seen its user base double since Q4.
- BofA/Merrill observes Baidu's aggressive spending growth is now being fueled more by hiring than by marketing spend, something it expects will translate into future leverage. Marketing spend fell to 11.5% of revenue from 14.1% in Q1, while R&D grew to 14.6% from 13.6%.
- Baidu made fresh highs today, and provided a lift to rivals Qihoo (QIHU +3.7%) and Sohu (SOHU +2.2%) along the way.
Mon, Jul. 14, 5:53 PM
- With Cheetah Mobile (CMCM -4.5%) obtaining 82% of its 2013 revenue from ad sales, and 92.6% from PCs, the ongoing shift in Chinese ad spend from PC to mobile "puts it in a tough spot," writes WestEnd511 in a column now out of embargo.
- The author argues Cheetah's "subscale" position in key markets especially leaves it at a disadvantage relative Qihoo (QIHU +2.1%) and other bigger rivals. Cheetah's mobile security software has an estimated 3% Chinese market penetration vs. 62% for Qihoo's software, 27% for Tencent's, and 18% for Baidu's.
- On PCs, Cheetah's antivirus software has 25% penetration vs. 92% for Qihoo's product and 23% for Tencent's. Its PC browser share is at just 1.3%, well below Qihoo's 24.6% and Internet Explorer's 48.1%.
- The author adds Qihoo, Baidu, and Tencent's popular Android app stores give them a distribution edge. A $16 PT is set based on a sum-of-the-parts analysis.
Tue, May. 27, 6:32 PM
- Qihoo (QIHU) expects Q2 revenue of $300M-$305M, well above a $270.2M consensus.
- Q1 results trounced estimates on the back of a 120.9% Y/Y increase in ad revenue to $140M, and a 172.2% increase in value-added service (largely gaming) revenue to $124.8M.
- Improving search/mobile monetization contributed to the ad growth. Qihoo notes it's now estimated to have 25% of the Chinese search market, up from 23% in Q4; the company has been aiming for a 30% share by year's end.
- Total users of Qihoo products/services rose by 4M Q/Q and 38M Y/Y to 497M. Users of Qihoo's 360 Mobile Safe app rose another 13% Q/Q and 96% Y/Y to 538M.
- Daily unique home page visitors rose by 3M Q/Q to 122M, after slipping by 7M in Q4. Average home page daily clicks rose by 91M Q/Q to 772M.
- Gross margin fell to 79.5% from 87.4% a year ago. Opex rose 101% Y/Y to $155.2M.
- Q1 results, PR
Wed, May. 7, 10:50 AM
- Has irrational exuberance given way to panic selling? Internet stocks are off again today, as the Street registers disappointment with earnings reports from AOL, Groupon, Zulily, SouFun, 500.com, and King.
- Yahoo (YHOO -6.2%) has fallen below $35 as the Street digests Alibaba's IPO filing. Twitter (TWTR -4.4%), crushed yesterday following its lockup expiration, briefly cracked $30 before rebounding a bit.
- Other decliners: QIHU -8.9%. BITA -7.2%. GOMO -7%. TRLA -5.2%. MELI -4.7%. ANGI -4.6%. Z -4%. YOKU -5.5%. CTRP -5.3%. WUBA -5.3%. JOBS -5.1%. GRUB -4%.
- Internet/social media ETFs: PNQI, SOCL, FDN
Mon, Apr. 28, 10:17 AM
- Sohu (SOHU -4.8%) missed Q1 estimates and provided light Q2 guidance. Meanwhile, as part of a recent crackdown, the Chinese government has pulled The Big Bang Theory and other popular U.S. shows from sites such as Sohu.com, Youku.com (YOKU -4.4%), Baidu's (BIDU -5%) iQiyi, and Tencent Video (TCEHY -2.8%). Time observes The Big Bang Theory has produced 1.3B video views since launching on Sohu TV in '09.
- The news is overshadowing a $1.22B investment in Youku by Alibaba (ABABA) and an affiliated P-E firm, and a WSJ report stating Alibaba is forming a mobile search JV with leading mobile browser firm UCWeb (once targeted by Baidu).
- The deals are the latest in a long line of investments and partnerships struck by Alibaba, Tencent, and Baidu, as each firm tries to build a Web/mobile empire covering over a dozen valuable markets.
- Is Qihoo (QIHU -0.8%) next in line to make a deal? With a $21.6B market cap, the security app/browser/search provider and Baidu rival is the biggest Chinese Internet company to remain independent of the big-3. Qihoo was reported in January to be talking with Alibaba.
- Other decliners: NQ -6.5%. VIPS -5.2%. WB -4.2%. WBAI -3%. LONG -4.5%. QUNR -2.4%.
Thu, Apr. 24, 4:50 PM
- Baidu (BIDU) expects Q2 revenue of RMB11.82B-RMB-12.11B ($1.901B-$1.948B), above a consensus of RMB11.55B.
- Revenue growth accelerated to 59.1% in Q1 from 50.4% in Q4. Online ad customers fell 1.1% Q/Q to 446K after falling 2.8% in Q4, but revenue per ad customer remained steady Q/Q and rose 44.1% Y/Y to RMB20.9K ($3,362).
- As promised, Baidu continues to invest aggressively: SG&A spend soared 136.9% Y/Y to $323.2M, thanks in large to mobile promotional efforts. R&D spend rose 57.5% to $205.4M.
- Traffic acquisition costs rose to 12.4% of revenue from 12.3% in Q4 and 10.2% a year ago. Content costs (fueled by online video licensing) rose to 4.1% of revenue from 3.8% in Q4 and 1.6% a year ago.
- Up in sympathy: SINA +1.6%. SOHU +1%. QIHU +2.6%. YY +1.1%. WB +1.5%. YOKU +1.7%.
- Q1 results, PR
Tue, Apr. 15, 4:55 PM| 8 Comments
Thu, Apr. 10, 4:01 PM
- Following a two-day rebound, high-beta tech stocks are seeing monumental losses once again. The Nasdaq is closing with its biggest one-day decline since 2011 (eclipsing last week's 110-point drop).
- Security hardware/software providers were hard-hit following Imperva's (IMPV -43.8%) big warning: FEYE -11.6%. PANW -6.4%. PFPT -9.8%. FFIV -4.7%. KEYW -6.5%. FTNT -6.9%. QLYS -10.4%.
- Other high-beta enterprise names didn't fare much better: DATA -10%. SPLK -10.3%. WDAY -9.3%. VRNS -8%. EOPN -7.9%. FIO -7.6%. BLOX -9.7%.
- Major Internet decliners: P -11%. YELP -10.6%. ZNGA -6.6%. YY -7.3%. QIHU -9.3%. SINA -6.6%.
- Solar: TSL -10.4%. CSIQ -10.4%. JKS -7.9%. SPWR -7.4%. JASO -6.8%. CSUN -8.2%.
- 3D printing: DDD -10.6%. VJET -13.3%. ONVO -8.1%. XONE -7.7%. SSYS -6.7%.
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