Baidu (BIDU) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Baidu (NASDAQ:BIDU) from a hold rating to a sell rating in a research report report published on Tuesday.
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. “
A number of other research firms also recently weighed in on BIDU. Jefferies Group boosted their price target on shares of Baidu from $232.00 to $305.00 and gave the stock a buy rating in a research note on Friday, October 20th. Bank of America reissued a buy rating and set a $301.00 price target on shares of Baidu in a research note on Sunday, November 19th. OTR Global raised shares of Baidu to a positive rating in a research note on Wednesday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Baidu from $230.00 to $225.00 and set a neutral rating for the company in a research note on Monday, October 30th. Finally, Barclays set a $240.00 price target on shares of Baidu and gave the stock a hold rating in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $238.19.
Shares of Baidu (BIDU) traded up $3.15 during mid-day trading on Tuesday, hitting $245.55. 1,910,000 shares of the stock were exchanged, compared to its average volume of 2,300,000. Baidu has a 12 month low of $165.82 and a 12 month high of $274.97. The firm has a market capitalization of $85,150.00, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.89. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71.
A number of large investors have recently modified their holdings of BIDU. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Baidu by 96.0% in the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock valued at $121,000 after buying an additional 240 shares during the period. Aviance Capital Management LLC acquired a new position in shares of Baidu in the second quarter valued at approximately $124,000. Intellectus Partners LLC acquired a new position in shares of Baidu in the second quarter valued at approximately $185,000. Invictus RG acquired a new position in shares of Baidu in the third quarter valued at approximately $193,000. Finally, BRYN MAWR TRUST Co acquired a new position in shares of Baidu in the second quarter valued at approximately $201,000. 63.95% of the stock is owned by hedge funds and other institutional investors.
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Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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