BidaskClub downgraded shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research report released on Tuesday.
Several other research firms have also recently issued reports on BIDU. Credit Suisse Group cut shares of Baidu from an outperform rating to a neutral rating in a research report on Friday, May 18th. Sanford C. Bernstein upgraded shares of Baidu from an underperform rating to a market perform rating and set a $305.00 price objective for the company in a research report on Friday, May 11th. Barclays raised their price objective on shares of Baidu from $240.00 to $250.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Deutsche Bank assumed coverage on shares of Baidu in a research report on Thursday, March 15th. They set a buy rating and a $319.00 price objective for the company. Finally, Jefferies Group cut shares of Baidu from a buy rating to a hold rating in a research report on Tuesday, January 23rd. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $281.40.
Baidu opened at $239.97 on Tuesday, Marketbeat Ratings reports. Baidu has a 12-month low of $173.52 and a 12-month high of $284.22. The stock has a market cap of $87.73 billion, a P/E ratio of 29.77, a PEG ratio of 1.37 and a beta of 1.87. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.34.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of Baidu by 14.0% in the first quarter. Principal Financial Group Inc. now owns 4,759 shares of the information services provider’s stock valued at $1,062,000 after purchasing an additional 586 shares in the last quarter. Navellier & Associates Inc grew its holdings in shares of Baidu by 13.4% in the first quarter. Navellier & Associates Inc now owns 7,009 shares of the information services provider’s stock valued at $1,564,000 after purchasing an additional 829 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Baidu by 23.0% in the first quarter. Legal & General Group Plc now owns 1,310,215 shares of the information services provider’s stock valued at $292,427,000 after purchasing an additional 245,039 shares in the last quarter. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Baidu in the first quarter valued at approximately $474,000. Finally, Verition Fund Management LLC grew its holdings in shares of Baidu by 28.8% in the first quarter. Verition Fund Management LLC now owns 4,298 shares of the information services provider’s stock valued at $959,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 61.28% of the company’s stock.
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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.
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