HSBC initiated coverage on shares of Baidu (NASDAQ:BIDU) in a report released on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $213.00 price objective on the information services provider’s stock.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Baidu from a sell rating to a strong sell rating in a research note on Saturday, October 6th. Zacks Investment Research cut Baidu from a hold rating to a sell rating in a research note on Monday, October 8th. ValuEngine cut Baidu from a hold rating to a sell rating in a research note on Thursday, September 6th. Credit Suisse Group set a $246.00 price objective on Baidu and gave the stock a buy rating in a research note on Wednesday, October 31st. Finally, UBS Group set a $220.00 price objective on Baidu and gave the stock a buy rating in a research note on Friday, November 2nd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $272.57.

NASDAQ:BIDU traded up $1.61 on Wednesday, reaching $181.36. The stock had a trading volume of 30,871 shares, compared to its average volume of 2,557,139. The firm has a market cap of $61.32 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.24. Baidu has a 12-month low of $174.25 and a 12-month high of $284.22.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA bought a new stake in shares of Baidu in the second quarter worth about $108,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Baidu in the second quarter valued at approximately $119,000. Toronto Dominion Bank increased its stake in shares of Baidu by 5,050.0% during the third quarter. Toronto Dominion Bank now owns 618 shares of the information services provider’s stock worth $141,000 after purchasing an additional 606 shares during the period. Centaurus Financial Inc. bought a new position in shares of Baidu during the second quarter worth approximately $150,000. Finally, CENTRAL TRUST Co increased its stake in shares of Baidu by 116.0% during the third quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock worth $170,000 after purchasing an additional 398 shares during the period. Institutional investors and hedge funds own 60.81% of the company’s stock.

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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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