Baidu (NASDAQ:BIDU) Upgraded at BidaskClub

BidaskClub upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a sell rating in a report released on Wednesday, BidAskClub reports.

A number of other research analysts also recently commented on the stock. Barclays cut their target price on shares of Baidu from $160.00 to $145.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. KeyCorp reissued an overweight rating and set a $148.00 target price (down previously from $160.00) on shares of Baidu in a research report on Friday, August 9th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Baidu from a strong sell rating to a hold rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. initiated coverage on shares of Baidu in a research report on Wednesday, July 10th. They set an overweight rating on the stock. Finally, Nomura cut their target price on shares of Baidu from $181.00 to $147.00 and set a neutral rating on the stock in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $165.84.

Shares of BIDU opened at $101.85 on Wednesday. Baidu has a 1-year low of $93.39 and a 1-year high of $234.88. The company has a 50-day moving average of $108.14 and a 200 day moving average of $140.12. The firm has a market capitalization of $37.69 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 18.36 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76.



Baidu declared that its board has approved a share repurchase plan on Thursday, May 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Baidu by 4.3% in the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after buying an additional 653,684 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Baidu by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 10,111,996 shares of the information services provider’s stock worth $1,186,744,000 after buying an additional 89,489 shares during the last quarter. Invesco Ltd. grew its position in shares of Baidu by 4.2% in the 2nd quarter. Invesco Ltd. now owns 5,632,774 shares of the information services provider’s stock worth $661,062,000 after buying an additional 228,312 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Baidu by 3.5% in the 1st quarter. Lazard Asset Management LLC now owns 3,191,574 shares of the information services provider’s stock worth $526,130,000 after buying an additional 107,716 shares during the last quarter. Finally, Comgest Global Investors S.A.S. grew its position in shares of Baidu by 0.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 3,131,855 shares of the information services provider’s stock worth $367,555,000 after buying an additional 22,500 shares during the last quarter. 58.10% of the stock is currently owned by institutional investors and hedge funds.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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