Baidu (NASDAQ:BIDU) Cut to Hold at Zacks Research

Zacks Research lowered shares of Baidu (NASDAQ:BIDU) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. UBS Group reiterated a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. Susquehanna reissued a “neutral” rating and set a $110.00 target price on shares of Baidu in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Finally, Jefferies Financial Group boosted their price objective on Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $159.94.

Baidu Price Performance

Baidu stock opened at $137.11 on Tuesday. The firm has a market cap of $47.36 billion, a PE ratio of 45.55 and a beta of 0.32. Baidu has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $140.91 and its two-hundred day moving average is $124.24.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Compound Planning Inc. lifted its position in shares of Baidu by 22.6% during the 4th quarter. Compound Planning Inc. now owns 6,418 shares of the information services provider’s stock worth $839,000 after buying an additional 1,181 shares during the last quarter. Vident Advisory LLC raised its stake in Baidu by 350.5% during the 4th quarter. Vident Advisory LLC now owns 22,739 shares of the information services provider’s stock worth $2,971,000 after acquiring an additional 17,692 shares in the last quarter. Beacon Pointe Advisors LLC raised its stake in Baidu by 2.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 5,312 shares of the information services provider’s stock worth $694,000 after acquiring an additional 132 shares in the last quarter. NewEdge Advisors LLC lifted its position in Baidu by 40.0% in the fourth quarter. NewEdge Advisors LLC now owns 34,257 shares of the information services provider’s stock valued at $4,476,000 after acquiring an additional 9,796 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new position in Baidu in the fourth quarter valued at $399,000.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.