Baidu (BIDU) Cut to Strong Sell at BidaskClub

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BidaskClub downgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a strong sell rating in a research report sent to investors on Friday.

A number of other brokerages have also issued reports on BIDU. Zacks Investment Research lowered shares of Baidu from a strong-buy rating to a hold rating in a research report on Tuesday, July 3rd. Deutsche Bank set a $337.00 target price on shares of Baidu and gave the stock a buy rating in a research report on Wednesday, August 1st. KeyCorp set a $297.00 target price on shares of Baidu and gave the stock a buy rating in a research report on Wednesday, August 1st. Citigroup upgraded shares of Baidu from a neutral rating to a buy rating and set a $307.00 target price on the stock in a research report on Friday, April 27th. Finally, Barclays set a $275.00 target price on shares of Baidu and gave the stock a hold rating in a research report on Sunday, April 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Baidu presently has a consensus rating of Buy and an average price target of $293.32.

Shares of NASDAQ BIDU opened at $222.67 on Friday. Baidu has a 1 year low of $207.74 and a 1 year high of $284.22. The company has a market cap of $76.32 billion, a P/E ratio of 27.63, a PEG ratio of 1.19 and a beta of 1.54. 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 declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 1.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently made changes to their positions in BIDU. Advisors Asset Management Inc. boosted its holdings in shares of Baidu by 31,003.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,103,867 shares of the information services provider’s stock valued at $1,547,000 after purchasing an additional 1,100,318 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Baidu by 51.4% in the 2nd 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 purchasing an additional 990,424 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at $222,598,000. Acadian Asset Management LLC boosted its holdings in shares of Baidu by 1,443.7% in the 2nd quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock valued at $165,141,000 after purchasing an additional 635,577 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Baidu by 234.0% in the 2nd quarter. Bank of Montreal Can now owns 881,924 shares of the information services provider’s stock valued at $214,306,000 after purchasing an additional 617,862 shares during the last quarter. Institutional investors own 61.79% of the company’s stock.

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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