Baidu (NASDAQ:BIDU) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. TheStreet lowered shares of Baidu from a “b-” rating to a “c+” rating in a research report on Friday, December 21st. Daiwa Capital Markets set a $215.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Friday, March 8th. ValuEngine raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Sanford C. Bernstein reissued a “mkt perform” rating on shares of Baidu in a research report on Monday, January 14th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Baidu has an average rating of “Buy” and a consensus price target of $248.13.

Shares of Baidu stock traded down $4.22 during midday trading on Wednesday, hitting $176.78. The company had a trading volume of 3,463,392 shares, compared to its average volume of 3,050,221. The firm has a market capitalization of $64.59 billion, a P/E ratio of 22.66, a PEG ratio of 2.01 and a beta of 1.47. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. Baidu has a 12-month low of $153.78 and a 12-month high of $284.22.

A number of institutional investors have recently added to or reduced their stakes in the stock. Gateway Investment Advisers LLC boosted its stake in Baidu by 36.2% during the 1st quarter. Gateway Investment Advisers LLC now owns 21,248 shares of the information services provider’s stock worth $3,503,000 after purchasing an additional 5,652 shares during the last quarter. Bouchey Financial Group Ltd acquired a new stake in Baidu during the 1st quarter worth $206,000. Dfpg Investments Inc. acquired a new stake in Baidu during the 1st quarter worth $221,000. Legacy Capital Partners Inc. acquired a new stake in Baidu during the 1st quarter worth $203,000. Finally, We Are One Seven LLC boosted its stake in Baidu by 98.2% during the 1st quarter. We Are One Seven LLC now owns 5,201 shares of the information services provider’s stock worth $857,000 after purchasing an additional 2,577 shares during the last quarter. 62.60% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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