Baidu (NASDAQ:BIDU) Rating Increased to Sell at BidaskClub

Baidu (NASDAQ:BIDU) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Wednesday, BidAskClub reports.

Other equities analysts also recently issued reports about the company. Deutsche Bank downgraded Baidu from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a research report on Friday, May 17th. CLSA set a $138.00 target price on Baidu and gave the stock a “buy” rating in a research note on Monday, July 8th. Daiwa Capital Markets cut Baidu from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. started coverage on Baidu in a research note on Wednesday, July 10th. They set an “overweight” rating for the company. Finally, Macquarie set a $131.00 target price on Baidu and gave the stock a “hold” rating in a research note on Thursday, July 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $165.84.

Shares of Baidu stock opened at $105.45 on Wednesday. Baidu has a one year low of $93.39 and a one year high of $234.88. The company has a market cap of $37.98 billion, a PE ratio of 13.52, a P/E/G ratio of 5.52 and a beta of 1.70. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. The business has a 50-day simple moving average of $108.47 and a 200-day simple moving average of $140.47.

Baidu announced that its Board of Directors has authorized a share buyback plan on Thursday, May 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information services provider to buy up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. SG Americas Securities LLC lifted its stake in Baidu by 604.1% in the second quarter. SG Americas Securities LLC now owns 1,576,463 shares of the information services provider’s stock valued at $185,014,000 after buying an additional 1,352,573 shares during the last quarter. Tweedy Browne Co LLC lifted its stake in Baidu by 64.8% in the second quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after buying an additional 930,874 shares during the last quarter. Prudential PLC lifted its stake in Baidu by 44.5% in the second quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock valued at $259,933,000 after buying an additional 681,970 shares during the last quarter. BlackRock Inc. lifted its stake in Baidu by 4.3% in the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after buying an additional 653,684 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Baidu by 1,299.7% in the second quarter. Nuveen Asset Management LLC now owns 677,245 shares of the information services provider’s stock valued at $79,482,000 after buying an additional 628,859 shares during the last quarter. Institutional investors own 58.10% of the company’s stock.

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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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