Wall Street Zen Downgrades Baidu (NASDAQ:BIDU) to Sell

Baidu (NASDAQ:BIDU) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other analysts have also commented on BIDU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a research note on Monday, December 22nd. Bank of America upped their price target on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. CLSA raised shares of Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. National Bankshares raised shares of Baidu to an “outperform” rating in a research note on Monday, November 24th. Finally, Susquehanna restated a “neutral” rating and issued a $110.00 target price on shares of Baidu in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.11.

Baidu Trading Up 1.2%

Shares of NASDAQ BIDU opened at $124.80 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. Baidu has a 12 month low of $74.71 and a 12 month high of $149.51. The company has a market cap of $43.11 billion, a price-to-earnings ratio of 41.46 and a beta of 0.44. The business has a fifty day simple moving average of $121.82 and a 200-day simple moving average of $108.66.

Hedge Funds Weigh In On Baidu

Hedge funds have recently modified their holdings of the stock. UMB Bank n.a. boosted its position in Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 134 shares during the last quarter. Binnacle Investments Inc purchased a new stake in shares of Baidu during the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC raised its stake in shares of Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after purchasing an additional 372 shares in the last quarter. Winthrop Capital Management LLC acquired a new stake in shares of Baidu during the 2nd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Baidu in the 2nd quarter valued at approximately $43,000.

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.