China's Qihoo 360 Jumping Again After Earnings

On the surface, this stock seems expensive because it trades at a trailing P/E of 263. However, its five-year expected PEG ratio (P/E dividend by 5-yr. EPS growth rate) is only 1.24. By this measure, the stock is inexpensive. For reference the PEG ratio of Baidu is 1.33 while trading at a trailing P/E of 29.22.