Baidu (NASDAQ:BIDU) Downgraded by Zacks Investment Research

Baidu (NASDAQ:BIDU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “

A number of other research analysts have also issued reports on BIDU. Morgan Stanley set a $125.00 price objective on Baidu and gave the company a “hold” rating in a research report on Tuesday, August 20th. CLSA set a $138.00 price objective on Baidu and gave the company a “buy” rating in a research report on Monday, July 8th. Benchmark reduced their price objective on Baidu to $165.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Jefferies Financial Group set a $135.00 price objective on Baidu and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Baidu in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. Baidu currently has a consensus rating of “Hold” and a consensus target price of $149.63.

NASDAQ:BIDU traded down $3.91 during midday trading on Friday, reaching $103.74. 2,732,828 shares of the company traded hands, compared to its average volume of 3,691,073. Baidu has a twelve month low of $93.39 and a twelve month high of $206.25. The firm has a market capitalization of $37.45 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 14.05 and a beta of 1.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.61 and a quick ratio of 2.61. The company has a fifty day moving average price of $104.76 and a 200 day moving average price of $123.00.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Baidu by 0.9% during 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 acquiring an additional 89,489 shares during the period. Invesco Ltd. raised its stake 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 in the last quarter. Comgest Global Investors S.A.S. raised its stake 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 in the last quarter. Tweedy Browne Co LLC raised its stake in shares of Baidu by 64.8% in the 2nd quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock worth $277,895,000 after buying an additional 930,874 shares in the last quarter. Finally, Prudential PLC raised its stake in shares of Baidu by 44.5% in the 2nd quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock worth $259,933,000 after buying an additional 681,970 shares in the last quarter. Institutional investors own 56.75% of the company’s stock.

About Baidu

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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