BidaskClub Upgrades Baidu (BIDU) to “Sell”

Baidu (NASDAQ:BIDU) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. ValuEngine downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Susquehanna Bancshares began coverage on shares of Baidu in a research report on Friday, September 7th. They set a “positive” rating and a $325.00 target price for the company. KeyCorp set a $297.00 target price on shares of Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Credit Suisse Group raised shares of Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 target price for the company in a research report on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $295.19.

Baidu stock opened at $220.03 on Friday. Baidu has a twelve month low of $207.74 and a twelve month high of $284.22. The company has a market cap of $75.83 billion, a PE ratio of 27.30, a P/E/G ratio of 0.93 and a beta of 1.54. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25.

Baidu declared that its board has approved a stock buyback program on Wednesday, June 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to purchase up to 1.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA bought a new position in Baidu in the 2nd quarter valued at $108,000. Flagship Harbor Advisors LLC bought a new position in Baidu in the 2nd quarter valued at $119,000. Bartlett & Co. LLC boosted its holdings in Baidu by 71.0% in the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock valued at $129,000 after purchasing an additional 220 shares during the period. Centaurus Financial Inc. bought a new position in Baidu in the 2nd quarter valued at $150,000. Finally, Valeo Financial Advisors LLC boosted its holdings in Baidu by 74.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 875 shares of the information services provider’s stock valued at $191,000 after purchasing an additional 373 shares during the period. 61.40% of the stock is owned by institutional investors.

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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