Baidu’s (BIDU) “Underperform” Rating Reaffirmed at Sanford C. Bernstein

Sanford C. Bernstein reiterated their underperform rating on shares of Baidu, Inc. (NASDAQ:BIDU) in a research note issued to investors on Friday morning. They currently have a $152.00 target price on the information services provider’s stock, down from their prior target price of $188.00.

Several other research analysts have also recently weighed in on the company. HSBC Holdings plc reiterated a buy rating and set a $223.00 price objective on shares of Baidu in a research report on Monday, July 10th. TheStreet cut Baidu from a b- rating to a c+ rating in a research report on Thursday, June 22nd. BidaskClub upgraded Baidu from a sell rating to a hold rating in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a buy rating and set a $208.00 price objective on shares of Baidu in a research report on Monday, June 19th. Finally, Vetr upgraded Baidu from a buy rating to a strong-buy rating and set a $205.36 price objective on the stock in a research report on Monday, June 12th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $189.02.

Baidu (NASDAQ:BIDU) traded down 0.17% during mid-day trading on Friday, reaching $188.23. 2,800,909 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $183.83 and a 200 day moving average price of $177.30. The company has a market cap of $65.29 billion, a PE ratio of 41.09 and a beta of 1.91. Baidu has a 52-week low of $156.23 and a 52-week high of $197.80.

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Hedge funds have recently added to or reduced their stakes in the stock. Dodge & Cox purchased a new stake in shares of Baidu during the fourth quarter worth approximately $933,189,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Baidu during the fourth quarter worth approximately $2,058,000. Orbis Allan Gray Ltd raised its stake in shares of Baidu by 206.2% in the fourth quarter. Orbis Allan Gray Ltd now owns 2,770,169 shares of the information services provider’s stock worth $455,443,000 after buying an additional 1,865,337 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Baidu by 34.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,456,384 shares of the information services provider’s stock worth $568,265,000 after buying an additional 883,702 shares during the last quarter. Finally, Searle & CO. purchased a new stake in shares of Baidu during the fourth quarter worth approximately $739,000. 64.44% of the stock is currently owned by institutional investors and hedge funds.

About Baidu

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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