Baidu (BIDU) Rating Lowered to Strong Sell at BidaskClub

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BidaskClub lowered shares of Baidu (NASDAQ:BIDU) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on the company. Mizuho lowered their target price on Baidu from $215.00 to $205.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Zacks Investment Research lowered Baidu from a hold rating to a strong sell rating in a research note on Wednesday, April 24th. KeyCorp set a $220.00 target price on Baidu and gave the company an overweight rating in a research note on Tuesday, April 23rd. They noted that the move was a valuation call. China Renaissance Securities reiterated a hold rating on shares of Baidu in a research note on Monday, April 15th. Finally, Credit Suisse Group set a $221.00 target price on Baidu and gave the company a buy rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Baidu has a consensus rating of Buy and a consensus target price of $230.64.

BIDU stock opened at $151.54 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31. Baidu has a 1 year low of $150.02 and a 1 year high of $284.22. The stock has a market capitalization of $55.44 billion, a PE ratio of 19.43, a P/E/G ratio of 4.80 and a beta of 1.44.

A number of institutional investors and hedge funds have recently modified their holdings of BIDU. Norges Bank purchased a new position in Baidu in the fourth quarter valued at about $526,416,000. Federated Investors Inc. PA boosted its holdings in Baidu by 280,999.1% in the third quarter. Federated Investors Inc. PA now owns 1,250,891 shares of the information services provider’s stock valued at $286,054,000 after purchasing an additional 1,250,446 shares during the last quarter. Harris Associates L P boosted its holdings in Baidu by 49.6% in the fourth quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock valued at $500,422,000 after purchasing an additional 1,046,123 shares during the last quarter. BlackRock Inc. boosted its holdings in Baidu by 4.3% in the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after purchasing an additional 653,684 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Baidu by 219.8% during the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after buying an additional 544,799 shares during the last quarter. 61.63% of the stock is owned by hedge funds and other institutional investors.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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