UBS Group set a $280.00 price target on Baidu (NASDAQ:BIDU) in a research note issued to investors on Tuesday morning, The Fly reports. The firm currently has a buy rating on the information services provider’s stock.
Several other analysts have also recently commented on BIDU. BNP Paribas started coverage on Baidu in a report on Thursday, June 14th. They set a buy rating on the stock. BidaskClub cut Baidu from a buy rating to a hold rating in a report on Thursday, June 28th. Zacks Investment Research cut Baidu from a strong-buy rating to a hold rating in a report on Tuesday, July 3rd. Credit Suisse Group upgraded Baidu from a neutral rating to an outperform rating and set a $307.00 target price on the stock in a report on Monday, July 9th. Finally, Deutsche Bank set a $337.00 target price on Baidu and gave the stock a buy rating in a report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $292.95.
Shares of BIDU stock opened at $204.36 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $79.30 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49. Baidu has a 52 week low of $189.00 and a 52 week high of $284.22.
Baidu declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 27th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Baidu by 2.1% during the second quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock valued at $3,432,507,000 after acquiring an additional 284,768 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Baidu by 51.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock valued at $708,826,000 after buying an additional 990,424 shares during the period. OppenheimerFunds Inc. lifted its stake in Baidu by 3.3% in the second quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock valued at $644,976,000 after buying an additional 85,932 shares during the period. Bank of America Corp DE lifted its stake in Baidu by 14.4% in the second quarter. Bank of America Corp DE now owns 1,560,081 shares of the information services provider’s stock valued at $379,099,000 after buying an additional 196,031 shares during the period. Finally, Legal & General Group Plc lifted its stake in Baidu by 3.9% in the second quarter. Legal & General Group Plc now owns 1,361,263 shares of the information services provider’s stock valued at $330,787,000 after buying an additional 51,048 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.
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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