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Citigroup Sees Qihoo 360 Tripling Mobile Revenue In 2014

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In a report dated July 24, Citigroup analyst Thomas Chong assumed coverage of Qihoo 360 Technology (NYSE: QIHU) with a Buy rating and a $114.10 price target.

Chong commented, "Qihoo demonstrates strong execution in monetization through PC search and mobile app stores with a focus in the China Market."

Chong believes that the company will be able to provide a one-stop search service to PC and Mobile advertisers through its formulated multi-channel strategy.

Looking ahead, Chong expects the company to capture market share in the high single-digits in terms of revenue in 2015.

Turning to mobile, he is looking for the company to more than triple revenue in 2014, hitting $289 million, driven by mobile game.

Following the release of the note, shares of Qihoo are up 4.9 percent at $100.35.

Latest Ratings for QIHU

DateFirmActionFromTo
Apr 2015Summit ResearchInitiates Coverage onBuy
Feb 2015Stifel NicolausMaintainsBuy
Feb 2015JefferiesDowngradesBuyHold

View More Analyst Ratings for QIHU
View the Latest Analyst Ratings

Posted-In: Citigroup Thomas ChongAnalyst Color News Price Target Initiation Analyst Ratings

 

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