Baidu (NASDAQ:BIDU) was downgraded by investment analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Friday.
A number of other equities research analysts have also recently weighed in on the company. Wells Fargo reaffirmed an “outperform” rating and set a $300.00 price target (up previously from $290.00) on shares of Baidu in a report on Wednesday, February 14th. Zacks Investment Research raised Baidu from a “hold” rating to a “strong-buy” rating and set a $290.00 price target on the stock in a report on Wednesday, May 2nd. Goldman Sachs initiated coverage on Baidu in a report on Tuesday, May 8th. They set a “buy” rating on the stock. Deutsche Bank initiated coverage on Baidu in a report on Thursday, March 15th. They set a “buy” rating and a $319.00 price target on the stock. Finally, BidaskClub raised Baidu from a “strong sell” rating to a “sell” rating in a report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $281.40.
Shares of NASDAQ BIDU opened at $279.68 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. Baidu has a 52-week low of $271.95 and a 52-week high of $277.43. The stock has a market capitalization of $98.50 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.87.
Large investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. grew its position in Baidu by 8,004.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 599,337 shares of the information services provider’s stock worth $140,371,000 after buying an additional 591,942 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in Baidu by 174.8% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 500,450 shares of the information services provider’s stock worth $117,210,000 after buying an additional 318,310 shares during the last quarter. Legal & General Group Plc grew its position in Baidu by 23.0% in the first quarter. Legal & General Group Plc now owns 1,310,215 shares of the information services provider’s stock worth $292,427,000 after buying an additional 245,039 shares during the last quarter. Myriad Asset Management Ltd. acquired a new position in Baidu in the first quarter worth approximately $51,546,000. Finally, Barings LLC acquired a new position in Baidu in the fourth quarter worth approximately $51,526,000. 62.71% of the stock is currently owned by hedge funds and other 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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