Baidu (NASDAQ:BIDU) Upgraded at Zacks Investment Research

Baidu (NASDAQ:BIDUGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “

Several other research firms also recently commented on BIDU. Jefferies Financial Group reduced their price target on shares of Baidu from $272.00 to $270.00 in a research note on Thursday, April 7th. Barclays reduced their price target on shares of Baidu from $243.00 to $235.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. upgraded shares of Baidu from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $90.00 to $125.00 in a report on Monday, May 16th. Mizuho dropped their target price on shares of Baidu from $300.00 to $285.00 in a report on Monday, May 2nd. Finally, increased their target price on shares of Baidu from $215.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Buy” and an average target price of $237.35.

BIDU stock traded up $2.90 during trading on Friday, hitting $139.09. The company had a trading volume of 4,571,195 shares, compared to its average volume of 3,947,400. The firm has a market capitalization of $48.06 billion, a P/E ratio of 32.88, a PEG ratio of 13.56 and a beta of 0.90. Baidu has a 52-week low of $101.62 and a 52-week high of $209.17. The company has a 50 day simple moving average of $129.16 and a 200-day simple moving average of $143.38. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.32.

A number of institutional investors and hedge funds have recently modified their holdings of BIDU. Lindbrook Capital LLC grew its stake in shares of Baidu by 22.8% during the fourth quarter. Lindbrook Capital LLC now owns 409 shares of the information services provider’s stock worth $61,000 after purchasing an additional 76 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Baidu by 4.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 1,767 shares of the information services provider’s stock valued at $263,000 after purchasing an additional 76 shares during the last quarter. Beacon Financial Group lifted its stake in Baidu by 3.7% during the fourth quarter. Beacon Financial Group now owns 2,299 shares of the information services provider’s stock worth $343,000 after purchasing an additional 82 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Baidu by 60.3% in the 4th quarter. Koshinski Asset Management Inc. now owns 234 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 88 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its holdings in Baidu by 2.6% in the first quarter. United Capital Financial Advisers LLC now owns 3,471 shares of the information services provider’s stock valued at $459,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 71.75% of the company’s stock.

About Baidu (Get Rating)

Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; and Haokan, a short video app.

Read More

Get a free copy of the Zacks research report on Baidu (BIDU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.