Baidu (NASDAQ:BIDU) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Baidu (NASDAQ:BIDU) from a hold rating to a sell rating in a research note issued to investors on Saturday.

BIDU has been the topic of a number of other research reports. Barclays reduced their price objective on Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday. Zephirin Group raised their target price on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Jefferies Financial Group boosted their price target on shares of Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded shares of Baidu from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $188.00 in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average target price of $157.89.

Baidu Price Performance

NASDAQ:BIDU opened at $122.48 on Friday. The business’s 50-day moving average is $141.55 and its 200 day moving average is $127.92. Baidu has a 12 month low of $74.71 and a 12 month high of $165.30. The company has a market capitalization of $42.31 billion, a P/E ratio of 77.03 and a beta of 0.33. The company has a current ratio of 1.76, a quick ratio of 1.91 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Baidu

Several large investors have recently modified their holdings of the stock. Primecap Management Co. CA lifted its position in Baidu by 1.4% in the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock worth $1,039,132,000 after buying an additional 170,414 shares during the last quarter. Morgan Stanley raised its stake in shares of Baidu by 38.0% in the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after acquiring an additional 745,588 shares during the period. RPD Fund Management LLC raised its stake in shares of Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after acquiring an additional 777,570 shares during the period. Schroder Investment Management Group bought a new stake in shares of Baidu in the 3rd quarter worth about $165,334,000. Finally, Capital World Investors lifted its holdings in shares of Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after acquiring an additional 205,040 shares during the last quarter.

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.