Wall Street Zen Downgrades Baidu (NASDAQ:BIDU) to Sell

Baidu (NASDAQ:BIDU) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other equities research analysts have also weighed in on the company. CLSA upgraded Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. Zephirin Group assumed coverage on Baidu in a research note on Monday, September 15th. They issued a “sell” rating and a $92.00 price objective on the stock. Nomura upped their price objective on Baidu from $91.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, September 22nd. Citigroup reissued a “buy” rating on shares of Baidu in a report on Monday, October 13th. Finally, Barclays reduced their target price on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.93.

Baidu Trading Up 1.8%

Shares of BIDU opened at $122.12 on Friday. Baidu has a 12-month low of $74.71 and a 12-month high of $149.51. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $42.19 billion, a price-to-earnings ratio of 11.26 and a beta of 0.42. The stock’s 50-day moving average price is $114.05 and its 200 day moving average price is $96.14.

Institutional Trading of Baidu

A number of large investors have recently made changes to their positions in BIDU. Creekmur Asset Management LLC bought a new stake in shares of Baidu in the 1st quarter valued at $29,000. Binnacle Investments Inc bought a new stake in shares of Baidu in the 2nd quarter valued at $29,000. Assetmark Inc. increased its position in shares of Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after buying an additional 192 shares in the last quarter. Winthrop Capital Management LLC bought a new stake in shares of Baidu in the 2nd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Baidu during the 2nd quarter worth about $43,000.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.