ValuEngine Upgrades Baidu (NASDAQ:BIDU) to Hold

Baidu (NASDAQ:BIDU) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts have also weighed in on BIDU. UBS Group upgraded Baidu from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Wednesday, December 9th. Zacks Investment Research raised Baidu from a “hold” rating to a “strong-buy” rating and set a $157.00 price target on the stock in a research report on Friday, November 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $130.00 price target (down from $140.00) on shares of Baidu in a research report on Tuesday, September 8th. Loop Capital lifted their price target on Baidu from $150.00 to $210.00 in a research report on Wednesday, December 23rd. Finally, The Goldman Sachs Group lifted their price target on Baidu from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Baidu has an average rating of “Buy” and an average price target of $163.61.

Shares of Baidu stock opened at $216.24 on Thursday. The firm has a market cap of $74.78 billion, a price-to-earnings ratio of 21.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 2.65. Baidu has a 52-week low of $82.00 and a 52-week high of $225.35. The stock has a 50-day simple moving average of $161.38 and a 200-day simple moving average of $134.86.

Baidu announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently made changes to their positions in BIDU. Acadian Asset Management LLC boosted its stake in Baidu by 31.7% in the 3rd quarter. Acadian Asset Management LLC now owns 3,193,827 shares of the information services provider’s stock valued at $404,309,000 after buying an additional 768,315 shares in the last quarter. LSV Asset Management boosted its stake in Baidu by 88.8% in the 3rd quarter. LSV Asset Management now owns 1,448,478 shares of the information services provider’s stock valued at $183,362,000 after buying an additional 681,433 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Baidu by 339.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 780,682 shares of the information services provider’s stock valued at $93,596,000 after buying an additional 603,065 shares in the last quarter. ARGA Investment Management LP boosted its stake in Baidu by 79.6% in the 3rd quarter. ARGA Investment Management LP now owns 1,297,964 shares of the information services provider’s stock valued at $164,309,000 after buying an additional 575,332 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Baidu by 26.8% in the 3rd quarter. Morgan Stanley now owns 2,372,661 shares of the information services provider’s stock valued at $300,355,000 after buying an additional 500,886 shares in the last quarter. 49.22% of the stock is currently owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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