Baidu (BIDU) Downgraded by BidaskClub

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Baidu (NASDAQ:BIDU) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

BIDU has been the topic of a number of other research reports. Goldman Sachs Group assumed coverage on Baidu in a research note on Tuesday, May 8th. They issued a “buy” rating on the stock. Sanford C. Bernstein upgraded Baidu from an “underperform” rating to a “market perform” rating and set a $305.00 target price on the stock in a research note on Friday, May 11th. Credit Suisse Group downgraded Baidu from an “outperform” rating to a “neutral” rating in a research note on Friday, May 18th. BNP Paribas assumed coverage on Baidu in a research note on Thursday, June 14th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Baidu currently has an average rating of “Buy” and a consensus price target of $293.32.

Shares of BIDU stock opened at $224.25 on Friday. Baidu has a 1-year low of $207.74 and a 1-year high of $284.22. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The firm has a market cap of $78.27 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54.

Baidu announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the information services provider to buy up to 1.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Several large investors have recently made changes to their positions in the business. Mainstay Capital Management LLC ADV acquired a new stake in shares of Baidu in the second quarter worth about $3,069,000. Advisors Asset Management Inc. lifted its position in shares of Baidu by 79.4% in the second quarter. Advisors Asset Management Inc. now owns 6,367 shares of the information services provider’s stock worth $1,547,000 after buying an additional 2,818 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new stake in shares of Baidu in the second quarter worth about $7,080,000. Nomura Holdings Inc. lifted its position in shares of Baidu by 1.5% in the second quarter. Nomura Holdings Inc. now owns 99,659 shares of the information services provider’s stock worth $24,217,000 after buying an additional 1,511 shares during the last quarter. Finally, Global X Management Co LLC lifted its position in shares of Baidu by 23.5% in the second quarter. Global X Management Co LLC now owns 60,971 shares of the information services provider’s stock worth $14,816,000 after buying an additional 11,612 shares during the last quarter. 61.59% of the stock is owned by 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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