Baidu (NASDAQ:BIDU) Stock Rating Lowered by Zacks Research

Baidu (NASDAQ:BIDU) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on BIDU. Bank of America reduced their price objective on shares of Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Baidu in a research report on Tuesday, May 19th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. Nomura boosted their target price on Baidu from $186.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Susquehanna lifted their price target on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.33.

Baidu Price Performance

Shares of BIDU opened at $108.22 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market cap of $36.82 billion, a PE ratio of -901.76, a PEG ratio of 2.38 and a beta of 0.56. The firm’s 50 day moving average price is $120.47 and its 200 day moving average price is $127.89. Baidu has a twelve month low of $84.64 and a twelve month high of $165.30.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in shares of Baidu in the first quarter valued at about $334,000. EverSource Wealth Advisors LLC increased its stake in Baidu by 71.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $101,000 after acquiring an additional 493 shares during the period. Guggenheim Capital LLC raised its holdings in Baidu by 53.3% in the 2nd quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock valued at $829,000 after acquiring an additional 3,362 shares in the last quarter. First Trust Advisors LP raised its holdings in Baidu by 2.6% in the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock valued at $4,291,000 after acquiring an additional 1,259 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in Baidu in the 2nd quarter valued at approximately $254,000.

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.