Baidu (NASDAQ:BIDU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
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. “
Other analysts have also recently issued reports about the company. Barclays set a $250.00 price objective on Baidu and gave the company a “hold” rating in a research note on Thursday, October 18th. ValuEngine cut Baidu from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub upgraded Baidu from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. Credit Suisse Group set a $246.00 target price on Baidu and gave the company a “buy” rating in a report on Sunday, December 23rd. Finally, Citigroup dropped their target price on Baidu from $295.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, October 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $272.57.
Shares of NASDAQ BIDU traded up $1.65 during mid-day trading on Monday, hitting $162.60. The company had a trading volume of 3,265,400 shares, compared to its average volume of 3,497,200. The stock has a market cap of $55.81 billion, a P/E ratio of 20.17, a PEG ratio of 0.85 and a beta of 1.60. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. Baidu has a 1-year low of $153.78 and a 1-year high of $284.22.
A number of large investors have recently bought and sold shares of BIDU. North Star Investment Management Corp. grew its holdings in shares of Baidu by 10.0% during the fourth quarter. North Star Investment Management Corp. now owns 1,100 shares of the information services provider’s stock worth $174,000 after purchasing an additional 100 shares during the last quarter. XR Securities LLC boosted its stake in shares of Baidu by 116.7% during the fourth quarter. XR Securities LLC now owns 1,690 shares of the information services provider’s stock worth $268,000 after buying an additional 11,790 shares during the period. Vanguard Group Inc boosted its stake in shares of Baidu by 1.1% during the third quarter. Vanguard Group Inc now owns 9,668,953 shares of the information services provider’s stock worth $2,211,097,000 after buying an additional 104,819 shares during the period. Federated Investors Inc. PA boosted its stake in shares of Baidu by 280,999.1% during the third quarter. Federated Investors Inc. PA now owns 1,250,891 shares of the information services provider’s stock worth $286,054,000 after buying an additional 1,250,446 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Baidu by 45.7% during the third quarter. Clearbridge Investments LLC now owns 136,611 shares of the information services provider’s stock worth $31,240,000 after buying an additional 42,873 shares during the period. 60.69% of the stock is currently owned by hedge funds and other institutional investors.
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 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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