Baidu (NASDAQ:BIDU) Raised to Hold at Zacks Research

Baidu (NASDAQ:BIDU) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on BIDU. Weiss Ratings cut Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Baidu in a report on Tuesday, May 19th. Susquehanna raised their price objective on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, Morgan Stanley raised their price objective on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Stock Performance

NASDAQ:BIDU opened at $112.72 on Monday. The business’s 50-day moving average price is $126.84 and its two-hundred day moving average price is $129.89. Baidu has a twelve month low of $83.30 and a twelve month high of $165.30. The stock has a market cap of $38.35 billion, a P/E ratio of -939.26, a PEG ratio of 1.99 and a beta of 0.54. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Baidu

A number of large investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Baidu by 0.4% during the 4th quarter. Quadrant Capital Group LLC now owns 20,112 shares of the information services provider’s stock valued at $2,628,000 after buying an additional 73 shares in the last quarter. Keel Point LLC increased its stake in Baidu by 1.5% in the 1st quarter. Keel Point LLC now owns 5,215 shares of the information services provider’s stock worth $581,000 after purchasing an additional 78 shares during the period. PDS Planning Inc increased its stake in Baidu by 5.7% in the 4th quarter. PDS Planning Inc now owns 1,634 shares of the information services provider’s stock worth $213,000 after purchasing an additional 88 shares during the period. UMB Bank n.a. increased its stake in Baidu by 25.9% in the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after purchasing an additional 88 shares during the period. Finally, Signaturefd LLC increased its stake in Baidu by 8.4% in the 4th quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock worth $167,000 after purchasing an additional 99 shares during the period.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.