Baidu (NASDAQ:BIDU) Rating Lowered to Strong Sell at Zacks Research

Baidu (NASDAQ:BIDU) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Susquehanna lifted their price target on shares of Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price objective on Baidu from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Bank of America decreased their price target on Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research note on Tuesday, July 14th. Finally, BNP Paribas Exane started coverage on Baidu in a report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.33.

Baidu Trading Down 1.4%

NASDAQ BIDU opened at $108.22 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. The firm has a market cap of $36.82 billion, a PE ratio of -901.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a 50 day moving average price of $120.47 and a 200 day moving average price of $127.89. Baidu has a 52 week low of $84.64 and a 52 week high of $165.30.

Institutional Investors Weigh In On Baidu

A number of institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in Baidu by 110.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 246,789 shares of the information services provider’s stock worth $28,206,000 after buying an additional 129,789 shares during the period. Steadtrust LLC lifted its stake in Baidu by 1.2% during the 2nd quarter. Steadtrust LLC now owns 8,225 shares of the information services provider’s stock valued at $940,000 after acquiring an additional 100 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of Baidu by 101.3% in the 2nd quarter. FNY Investment Advisers LLC now owns 6,999 shares of the information services provider’s stock valued at $799,000 after acquiring an additional 3,522 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Baidu by 100.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,266 shares of the information services provider’s stock valued at $602,000 after acquiring an additional 2,634 shares during the last quarter. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Baidu in the second quarter worth $205,000.

About Baidu

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.