Baidu (BIDU) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a hold rating in a report released on Tuesday.

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. “

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A number of other equities analysts also recently commented on BIDU. Deutsche Bank set a $369.00 target price on Baidu and gave the company a buy rating in a research note on Monday, October 29th. Benchmark decreased their target price on Baidu from $300.00 to $260.00 and set a buy rating for the company in a research note on Wednesday, October 31st. Barclays set a $230.00 target price on Baidu and gave the company a hold rating in a research note on Thursday, November 1st. Credit Suisse Group set a $246.00 target price on Baidu and gave the company a buy rating in a research note on Wednesday, October 31st. Finally, Nomura decreased their target price on Baidu from $283.00 to $206.00 and set a neutral rating for the company in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $251.20.

Shares of Baidu stock opened at $162.09 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.66 and a quick ratio of 2.66. Baidu has a fifty-two week low of $153.78 and a fifty-two week high of $284.22. The stock has a market capitalization of $57.97 billion, a P/E ratio of 20.78, a PEG ratio of 1.01 and a beta of 1.52.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Insight 2811 Inc. acquired a new position in shares of Baidu during the fourth quarter worth approximately $434,000. Nordea Investment Management AB boosted its position in shares of Baidu by 48.3% during the fourth quarter. Nordea Investment Management AB now owns 218,417 shares of the information services provider’s stock worth $34,639,000 after buying an additional 71,148 shares during the period. Financial Partners Capital Management LLC acquired a new position in shares of Baidu during the fourth quarter worth approximately $1,516,000. Executive Wealth Management LLC acquired a new position in shares of Baidu during the fourth quarter worth approximately $45,000. Finally, Advisory Services Network LLC boosted its position in shares of Baidu by 99.6% during the fourth quarter. Advisory Services Network LLC now owns 2,707 shares of the information services provider’s stock worth $429,000 after buying an additional 1,351 shares during the period. Institutional investors and hedge funds own 60.67% 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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors; 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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