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

Baidu (NASDAQ:BIDUGet Free Report) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also issued reports on BIDU. BNP Paribas Exane initiated coverage on Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Nomura dropped their target price on Baidu from $196.00 to $186.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Morgan Stanley dropped their target price on Baidu from $150.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Finally, UBS Group restated a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Baidu has a consensus rating of “Moderate Buy” and a consensus price target of $158.05.

Check Out Our Latest Analysis on BIDU

Baidu Stock Performance

BIDU opened at $126.13 on Thursday. Baidu has a 52-week low of $81.17 and a 52-week high of $165.30. The firm has a market capitalization of $42.92 billion, a PE ratio of 79.33 and a beta of 0.44. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.76. The business’s 50-day simple moving average is $122.66 and its 200 day simple moving average is $128.42.

Hedge Funds Weigh In On Baidu

A number of large investors have recently made changes to their positions in the company. Everstar Asset Management LLC increased its stake in shares of Baidu by 134.5% during the first quarter. Everstar Asset Management LLC now owns 9,850 shares of the information services provider’s stock worth $1,097,000 after purchasing an additional 5,650 shares during the period. SG Americas Securities LLC increased its stake in shares of Baidu by 6.0% during the first quarter. SG Americas Securities LLC now owns 385,315 shares of the information services provider’s stock worth $42,932,000 after purchasing an additional 21,813 shares during the period. Sankala Group LLC bought a new position in shares of Baidu during the fourth quarter worth approximately $46,000. Compound Planning Inc. increased its stake in shares of Baidu by 22.6% during the fourth quarter. Compound Planning Inc. now owns 6,418 shares of the information services provider’s stock worth $839,000 after purchasing an additional 1,181 shares during the period. Finally, Vident Advisory LLC increased its stake in shares of Baidu by 350.5% during the fourth quarter. Vident Advisory LLC now owns 22,739 shares of the information services provider’s stock worth $2,971,000 after purchasing an additional 17,692 shares during the period.

More Baidu News

Here are the key news stories impacting Baidu this week:

Baidu Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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