Baidu Inc. (BIDU) Upgraded to Hold at Zacks Investment Research
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. “
A number of other brokerages have also weighed in on BIDU. Deutsche Bank AG lowered Baidu from a buy rating to a hold rating and decreased their price objective for the company from $219.00 to $201.00 in a report on Wednesday, September 28th. Vetr lowered Baidu from a hold rating to a sell rating and set a $176.40 price objective on the stock. in a report on Tuesday, September 6th. Jefferies Group restated a buy rating and issued a $188.00 price objective on shares of Baidu in a report on Monday. Bank of America Corp. restated a sell rating on shares of Baidu in a report on Friday, September 30th. Finally, Nomura restated a neutral rating and issued a $155.00 price objective on shares of Baidu in a report on Tuesday, September 6th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $195.46.
Baidu (NASDAQ:BIDU) traded down 0.17% on Tuesday, hitting $183.76. 503,883 shares of the stock were exchanged. Baidu has a 52-week low of $139.61 and a 52-week high of $217.97. The firm has a market cap of $63.69 billion, a PE ratio of 13.52 and a beta of 2.17. The stock’s 50 day moving average price is $181.71 and its 200 day moving average price is $175.23.
Several hedge funds have recently bought and sold shares of BIDU. Ithaka Group LLC raised its stake in Baidu by 3.0% in the first quarter. Ithaka Group LLC now owns 58,171 shares of the company’s stock worth $11,104,000 after buying an additional 1,705 shares during the last quarter. Investec Asset Management LTD raised its stake in Baidu by 11.0% in the first quarter. Investec Asset Management LTD now owns 1,237,996 shares of the company’s stock worth $236,309,000 after buying an additional 122,853 shares during the last quarter. M&T Bank Corp raised its stake in Baidu by 14.8% in the first quarter. M&T Bank Corp now owns 14,774 shares of the company’s stock worth $2,820,000 after buying an additional 1,909 shares during the last quarter. Bessemer Group Inc. raised its stake in Baidu by 54.2% in the first quarter. Bessemer Group Inc. now owns 51,776 shares of the company’s stock worth $9,883,000 after buying an additional 18,191 shares during the last quarter. Finally, Holowesko Partners Ltd. raised its stake in Baidu by 44.1% in the first quarter. Holowesko Partners Ltd. now owns 247,200 shares of the company’s stock worth $47,186,000 after buying an additional 75,700 shares during the last quarter. 63.21% of the stock is currently owned by institutional investors and hedge funds.
Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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