Baidu (NASDAQ:BIDU) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Baidu (NASDAQ:BIDU) from a strong sell rating to a sell rating in a research report report published on Thursday morning, BidAskClub reports.

A number of other research analysts have also recently weighed in on BIDU. JPMorgan Chase & Co. began coverage on shares of Baidu in a research note on Wednesday, July 10th. They issued an overweight rating on the stock. HSBC boosted their price target on shares of Baidu from $137.00 to $141.00 and gave the company a buy rating in a research report on Wednesday, August 21st. KeyCorp reissued an overweight rating and issued a $148.00 price target (down previously from $160.00) on shares of Baidu in a research report on Friday, August 9th. They noted that the move was a valuation call. CLSA set a $138.00 price target on shares of Baidu and gave the company a buy rating in a research report on Monday, July 8th. Finally, Macquarie set a $131.00 price target on shares of Baidu and gave the company a hold rating in a research report on Thursday, July 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Baidu currently has an average rating of Hold and an average price target of $151.06.

BIDU traded down $0.96 during midday trading on Thursday, reaching $110.54. The company had a trading volume of 2,982,426 shares, compared to its average volume of 3,752,244. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.61 and a current ratio of 2.61. The stock has a market cap of $38.90 billion, a PE ratio of 14.17, a P/E/G ratio of 14.47 and a beta of 1.73. Baidu has a 12-month low of $93.39 and a 12-month high of $234.88. The business has a 50-day moving average price of $104.41 and a two-hundred day moving average price of $133.77.

Baidu announced that its board has authorized a share buyback program on Thursday, May 16th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently bought and sold shares of BIDU. Griffin Asset Management Inc. bought a new stake in Baidu during the 2nd quarter worth approximately $27,000. Motco bought a new stake in Baidu during the 2nd quarter worth approximately $28,000. Tower Research Capital LLC TRC bought a new stake in Baidu during the 2nd quarter worth approximately $31,000. American Beacon Advisors Inc. increased its holdings in Baidu by 71.2% during the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after acquiring an additional 84 shares during the period. Finally, Westside Investment Management Inc. bought a new stake in Baidu during the 2nd quarter worth approximately $33,000. 57.34% of the stock is currently owned by institutional investors and hedge funds.

About Baidu

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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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