Baidu (NASDAQ:BIDU) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
Several other brokerages also recently weighed in on BIDU. UBS Group set a $220.00 target price on Baidu and gave the stock a “buy” rating in a research report on Friday, November 2nd. BidaskClub raised Baidu from a “strong sell” rating to a “sell” rating in a research report on Friday, September 14th. Barclays set a $230.00 target price on Baidu and gave the stock a “hold” rating in a research report on Thursday, November 1st. Deutsche Bank set a $369.00 price target on Baidu and gave the company a “buy” rating in a report on Monday, October 29th. Finally, ValuEngine downgraded Baidu from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $277.15.
Shares of NASDAQ BIDU opened at $180.70 on Wednesday. Baidu has a 1-year low of $174.66 and a 1-year high of $284.22. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $63.34 billion, a PE ratio of 22.42, a P/E/G ratio of 0.97 and a beta of 1.60.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC boosted its holdings in Baidu by 45.7% in the third quarter. Clearbridge Investments LLC now owns 136,611 shares of the information services provider’s stock valued at $31,240,000 after purchasing an additional 42,873 shares during the last quarter. GFS Advisors LLC bought a new position in Baidu during the 3rd quarter worth approximately $309,000. Carnegie Capital Asset Management LLC lifted its holdings in Baidu by 27.2% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 22,707 shares of the information services provider’s stock worth $4,247,000 after buying an additional 4,851 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Baidu by 1.1% during the 3rd 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 last quarter. Finally, Dodge & Cox lifted its holdings in Baidu by 12.6% during the 3rd quarter. Dodge & Cox now owns 3,821,913 shares of the information services provider’s stock worth $873,995,000 after buying an additional 427,876 shares during the last quarter. 60.81% of the stock is owned by hedge funds and other institutional investors.
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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