Qihoo 360 Technology (QIHU) Forms Online Education JV

Shares of Qihoo 360 Technology Co. Ltd. (QIHU) are up 1.55% to $49.28 in early morning trading on Monday, ahead of the company’s 4Q/14 earnings report, and on news the Beijing-based Internet security company and tutoring services firm Xueda Education Group (XUE) have formed an online joint-venture named Yangguang Tu (literally “Sunshine Rabbit”).

The company, whose Xueda CEO Jin Xin is named as chairman, has registered capital of RMB 20 million ($3.25 million). Board members include Qihoo’s president Qi Xiangdong and VP Yu Guangdong.

Qihoo 360 Tech., currently valued at $6.11B, has a median Wall Street price target of $78.50 with a high target of $160.00. Approximately 260K shares have already changed hands, compared to the stock’s average daily volume of 2.52M.

In the past 52 weeks, shares of the Chinese internet services and security software provider have traded between a low of $45.28 and a high of $123.73 with the 50-day MA and 200-day MA located at $55.70 and $66.73 levels, respectively. Additionally, shares of QIHU trade at a P/E ratio of 0.51 and have a Relative Strength Index (RSI) and MACD indicator of 35.56 and -0.73, respectively.

QIHU currently prints a one year loss of about 60% and a year-to-date loss of around 15.25%.

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