Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a hold rating in a report released on Friday morning.
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 firms also recently commented on BIDU. Barclays set a $250.00 price objective on Baidu and gave the stock a hold rating in a report on Thursday, October 19th. UBS Group upgraded Baidu from a hold rating to a buy rating in a report on Monday, October 23rd. Jefferies Group upped their price objective on Baidu from $232.00 to $305.00 and gave the stock a buy rating in a report on Friday, October 20th. OTR Global upgraded Baidu to a positive rating in a report on Wednesday, October 25th. Finally, BidaskClub downgraded Baidu from a hold rating to a sell rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Baidu currently has an average rating of Buy and a consensus target price of $246.76.
Shares of Baidu (BIDU) opened at $244.72 on Friday. The company has a market capitalization of $84,970.00, a price-to-earnings ratio of 29.66, a PEG ratio of 1.68 and a beta of 1.86. The company has a current ratio of 1.84, a quick ratio of 1.71 and a debt-to-equity ratio of 0.30. Baidu has a twelve month low of $166.00 and a twelve month high of $274.97.
Several institutional investors have recently made changes to their positions in the company. Rehmann Capital Advisory Group grew its stake in shares of Baidu by 10.6% during the third quarter. Rehmann Capital Advisory Group now owns 2,113 shares of the information services provider’s stock valued at $523,000 after acquiring an additional 202 shares in the last quarter. Advisors Capital Management LLC grew its stake in shares of Baidu by 2.3% during the third quarter. Advisors Capital Management LLC now owns 8,991 shares of the information services provider’s stock valued at $2,227,000 after acquiring an additional 204 shares in the last quarter. Commerce Bank grew its stake in shares of Baidu by 8.1% during the third quarter. Commerce Bank now owns 2,807 shares of the information services provider’s stock valued at $696,000 after acquiring an additional 210 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of Baidu by 12.8% during the fourth quarter. Hollencrest Capital Management now owns 1,870 shares of the information services provider’s stock valued at $438,000 after acquiring an additional 212 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Baidu by 88.5% during the fourth quarter. Whittier Trust Co. now owns 490 shares of the information services provider’s stock valued at $115,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 63.73% of the company’s stock.
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Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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