QIHU
QIHOO 360 Technology Co. Ltd.
TMT
12/11/2014
Presented
| Date | 12/09/2014 |
| Price | $61.47 |
| Market Cap | $7.74B |
| Ent Value | $7.69B |
| P/E Ratio | 79.8x |
| Book Value | $7.56 |
| Div Yield | 0% |
| Shares O/S | 125.93M |
| Ave Daily Vol | 3,070,000 |
| Short Int | 6.64% |
Current
| Price | $76.92 |
| Market Cap | $7.77B |
| Qihoo 360 Technology Co. Ltd. provides Internet and mobile security products and services in the People's Republic of China. Its core Internet security products include 360 Safe Guard, a solution for Internet security and system optimization; 360 Anti-Virus, an anti-virus application that uses multiple scan engines to protect users’ computers against various kinds of malware, as well as 360 Mobile Safe, a security program for the Google Android, Apple iOS, and Windows smartphone operating systems. The company’s platform products comprise 360 Safe Browser and 360 Speed Browser, which are based on dual-core technologies providing secure browsing and blocking malicious Websites, indentifying them among search results, scanning files downloaded through the browser for security threats, as well as 360 Mobile Browser for the iOS and Android operating systems. Its 360 browsers also consist of 360 Personal Start-up Page, which serves as user’s start-up page aggregating preferred Web services and applications; 360 Search, a search engine; and 360 Mobile Assistant, which allows users to browse, search, and obtain various mobile applications for mobile devices. The company also provides online advertising service; Internet value-added services; and online lottery purchase services, as well as serves as an agent for providing online distribution services and payment collections services. The company was formerly known as Qihoo Technology Company Limited and changed its name to Qihoo 360 Technology Co. Ltd. Qihoo 360 Technology Co. Ltd. was founded in 2005 and is based in Beijing, China. |
Publicly traded companies mentioned herein: Alibaba Group Holding Ltd (BABA), Baidu Inc (BIDU), Cheetah Mobile Inc (CMCM), FireEye Inc (FEYE), Google Inc (GOOG), Qihoo 360 Technology Co Ltd (QIHU), SoftBank Corp (9984 JP), Sohu.com Inc (SOHU), Tencent Holdings Ltd (700 HK)
Highlights
The presenter is short shares of Qihoo 360 Technology (QIHU), and while the stock has declined to the low $60s from the mid $70s since late November - shares traded as high as $100 in early March, 2014 - the presenter thinks the risk/ reward remains favorable for bears as there is still meaningful downside risk for shareholders. QIHU’s mobile footprint is eroding, and its ability to replicate its previous success on the PC side of the business is at risk due to competition.
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