Baidu (NASDAQ:BIDU) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

BIDU has been the topic of several other reports. Morgan Stanley increased their price target on shares of Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. reduced their target price on Baidu from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. BNP Paribas Exane initiated coverage on Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Bank of America reduced their price objective on Baidu from $180.00 to $165.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $165.33.

Baidu Trading Down 1.4%

NASDAQ:BIDU opened at $108.22 on Monday. The company has a market capitalization of $36.82 billion, a PE ratio of -901.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu has a 52-week low of $84.64 and a 52-week high of $165.30. The stock has a fifty day simple moving average of $120.47 and a 200-day simple moving average of $127.89.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signature Equity Partners LLC acquired a new stake in Baidu in the 1st quarter worth about $25,000. Binnacle Investments Inc acquired a new position in shares of Baidu during the 2nd quarter valued at about $29,000. Sankala Group LLC purchased a new position in shares of Baidu during the 4th quarter worth about $46,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Baidu by 35.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after acquiring an additional 88 shares during the last quarter.

Baidu Company Profile

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.