Baidu (NASDAQ:BIDU) Lowered to Sell Rating by Wall Street Zen

Baidu (NASDAQ:BIDU) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other research analysts have also recently commented on the stock. Daiwa Capital Markets set a $160.00 target price on shares of Baidu and gave the stock a “buy” rating in a report on Tuesday. Susquehanna raised their target price on shares of Baidu from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Macquarie raised shares of Baidu from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $91.00 to $176.00 in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a report on Wednesday, October 8th. Finally, Nomura increased their price target on shares of Baidu from $91.00 to $135.00 and gave the stock a “neutral” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.93.

Baidu Stock Down 0.7%

Shares of BIDU opened at $120.01 on Friday. Baidu has a 12 month low of $74.71 and a 12 month high of $149.51. The firm’s 50 day moving average is $113.32 and its 200-day moving average is $95.82. The stock has a market capitalization of $41.46 billion, a PE ratio of 11.06 and a beta of 0.42. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

A number of hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its position in Baidu by 1.4% in the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock valued at $1,039,132,000 after buying an additional 170,414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock valued at $490,035,000 after buying an additional 4,964,350 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock valued at $125,338,000 after buying an additional 11,658 shares in the last quarter. RPD Fund Management LLC boosted its position in Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after buying an additional 777,570 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Baidu by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider’s stock valued at $95,494,000 after buying an additional 25,834 shares in the last quarter.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. 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; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.