Baidu (BIDU) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $257.00 price target on the information services provider’s stock.

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. “

How to Become a New Pot Stock Millionaire

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Baidu from a hold rating to a buy rating in a research report on Thursday, March 1st. Deutsche Bank started coverage on shares of Baidu in a research report on Thursday, March 15th. They set a buy rating and a $319.00 price objective on the stock. Barclays upped their target price on shares of Baidu from $240.00 to $250.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Jefferies Group cut shares of Baidu from a buy rating to a hold rating in a research note on Tuesday, January 23rd. Finally, BidaskClub upgraded shares of Baidu from a sell rating to a hold rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $260.01.

Shares of BIDU stock opened at $237.11 on Tuesday. Baidu has a one year low of $173.52 and a one year high of $274.97. The stock has a market cap of $82,442.20, a P/E ratio of 29.42, a PEG ratio of 1.51 and a beta of 1.88. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.

Several large investors have recently modified their holdings of BIDU. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Baidu by 8,004.6% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 599,337 shares of the information services provider’s stock worth $140,371,000 after purchasing an additional 591,942 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Baidu by 174.8% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 500,450 shares of the information services provider’s stock worth $117,210,000 after purchasing an additional 318,310 shares during the period. Barings LLC bought a new position in shares of Baidu in the 4th quarter worth approximately $51,526,000. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Baidu by 156.2% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 345,085 shares of the information services provider’s stock worth $80,822,000 after purchasing an additional 210,404 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in shares of Baidu by 8.8% in the 4th quarter. OppenheimerFunds Inc. now owns 2,529,237 shares of the information services provider’s stock worth $592,372,000 after purchasing an additional 204,004 shares during the period. Hedge funds and other institutional investors own 63.12% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Baidu (BIDU) Upgraded to Buy at Zacks Investment Research” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/04/20/baidu-bidu-upgraded-to-buy-at-zacks-investment-research.html.

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 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.

Get a free copy of the Zacks research report on Baidu (BIDU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply