Baidu (NASDAQ:BIDU) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $136.00 price target on the information services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 15.06% from the stock’s previous close.

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. “

Several other research firms have also issued reports on BIDU. Morgan Stanley raised shares of Baidu from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 7th. Oppenheimer raised shares of Baidu from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $124.56 to $145.00 in a research report on Monday. Jefferies Financial Group set a $133.00 price objective on shares of Baidu and gave the stock a “buy” rating in a research report on Friday, October 18th. BidaskClub raised shares of Baidu from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Sanford C. Bernstein raised shares of Baidu from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $118.00 to $139.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $146.10.

Shares of Baidu stock traded down $0.09 during trading hours on Thursday, hitting $118.20. The company’s stock had a trading volume of 4,779,900 shares, compared to its average volume of 3,778,961. Baidu has a 1-year low of $93.39 and a 1-year high of $196.00. The business has a fifty day moving average of $106.46 and a 200 day moving average of $114.32. The company has a market capitalization of $42.22 billion, a PE ratio of 15.15, a P/E/G ratio of 13.79 and a beta of 1.72. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.32.

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Baidu by 604.1% during the 2nd quarter. SG Americas Securities LLC now owns 1,576,463 shares of the information services provider’s stock valued at $185,014,000 after acquiring an additional 1,352,573 shares during the last quarter. Tweedy Browne Co LLC boosted its stake in Baidu by 64.8% during the 2nd quarter. Tweedy Browne Co LLC now owns 2,367,889 shares of the information services provider’s stock valued at $277,895,000 after acquiring an additional 930,874 shares during the last quarter. Prudential PLC boosted its stake in Baidu by 44.5% during the 2nd quarter. Prudential PLC now owns 2,216,196 shares of the information services provider’s stock valued at $259,933,000 after acquiring an additional 681,970 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Baidu by 1,299.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 677,245 shares of the information services provider’s stock valued at $79,482,000 after acquiring an additional 628,859 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Baidu by 67.6% during the 2nd quarter. Bank of Montreal Can now owns 1,328,677 shares of the information services provider’s stock valued at $155,933,000 after acquiring an additional 535,992 shares during the last quarter. Institutional investors and hedge funds own 55.00% 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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