Baidu (NASDAQ:BIDU) Downgraded by BidaskClub to “Strong Sell”

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Baidu (NASDAQ:BIDU) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday, BidAskClub reports.

Several other analysts have also recently issued reports on BIDU. Barclays upped their price objective on Baidu from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, January 10th. Daiwa Capital Markets upgraded Baidu from a “hold” rating to an “outperform” rating and upped their price objective for the company from $105.00 to $124.00 in a research note on Friday, November 8th. Jefferies Financial Group set a $133.00 price objective on Baidu and gave the company a “buy” rating in a research note on Friday, October 18th. Macquarie assumed coverage on Baidu in a research report on Wednesday, November 27th. They set a “neutral” rating and a $134.00 price target on the stock. Finally, Mizuho increased their price target on Baidu from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $146.53.

Shares of NASDAQ BIDU opened at $126.93 on Wednesday. The stock’s 50 day moving average price is $131.17 and its two-hundred day moving average price is $113.97. Baidu has a 52-week low of $93.39 and a 52-week high of $186.22. The stock has a market capitalization of $44.11 billion, a P/E ratio of -141.03, a PEG ratio of 3.03 and a beta of 1.77. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.35.

A number of hedge funds have recently modified their holdings of the stock. Wetherby Asset Management Inc. grew its holdings in Baidu by 44.8% in the 4th quarter. Wetherby Asset Management Inc. now owns 5,721 shares of the information services provider’s stock worth $723,000 after buying an additional 1,771 shares in the last quarter. M&G Investment Management Ltd. bought a new position in Baidu in the 4th quarter worth approximately $47,761,000. California Public Employees Retirement System grew its holdings in Baidu by 23.6% in the 4th quarter. California Public Employees Retirement System now owns 652,260 shares of the information services provider’s stock worth $82,446,000 after buying an additional 124,430 shares in the last quarter. CWM LLC grew its holdings in Baidu by 18.7% in the 4th quarter. CWM LLC now owns 13,569 shares of the information services provider’s stock worth $1,715,000 after buying an additional 2,138 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV bought a new position in Baidu in the 4th quarter worth approximately $1,276,000. 52.15% of the stock is owned by institutional investors and hedge funds.

Baidu Company Profile

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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