Surging Earnings Estimates Signal Good News for Qihoo 360 (QIHU)

Zacks

Qihoo 360 Technology Co. Ltd. (QIHU) is an internet software company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
 
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on QIHU’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Qihoo 360 could be a solid choice for investors.
 
Current Quarter Estimates for QIHU
 
In the past 30 days, 2 estimates have gone higher for Qihoo 360 with no dpwnward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 19 cents a share 30 days ago, to 24 today, a move of 26.3%.
 
Current Year Estimates for QIHU
 
Meanwhile, Qihoo 360’s current year figures are also looking quite promising, with 6 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.72 per share 30 days ago to $1.90 per share today, an increase of 10.5%.
 
Bottom Line
 
The stock has also started to move higher lately, adding 13.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
 
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