Baidu (BIDU) Coverage Initiated at Susquehanna Bancshares

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Susquehanna Bancshares initiated coverage on shares of Baidu (NASDAQ:BIDU) in a research report issued on Friday, The Fly reports. The brokerage set a “positive” rating and a $325.00 price target on the information services provider’s stock. Susquehanna Bancshares’ target price indicates a potential upside of 49.38% from the company’s previous close.

Other research analysts have also issued reports about the company. BidaskClub upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. BNP Paribas initiated coverage on Baidu in a research report on Thursday, June 14th. They issued a “buy” rating on the stock. Deutsche Bank set a $337.00 price objective on Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st. KeyCorp set a $297.00 price objective on Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Zacks Investment Research upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen 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 an average price target of $295.19.

BIDU traded up $2.52 during mid-day trading on Friday, reaching $217.57. The stock had a trading volume of 32,970 shares, compared to its average volume of 2,772,796. The firm has a market capitalization of $74.98 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 0.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.00 and a current ratio of 2.00. Baidu has a 52 week low of $207.74 and a 52 week high of $284.22.

Baidu declared that its board has initiated a stock buyback program 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 repurchase up to 1.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Large investors have recently bought and sold shares of the company. Bartlett & Co. LLC lifted its holdings in Baidu by 71.0% during the second quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after acquiring an additional 220 shares in the last quarter. BB&T Securities LLC lifted its holdings in Baidu by 0.6% during the second quarter. BB&T Securities LLC now owns 40,891 shares of the information services provider’s stock worth $9,936,000 after acquiring an additional 239 shares in the last quarter. Elite Wealth Management Inc. lifted its holdings in Baidu by 5.7% during the first quarter. Elite Wealth Management Inc. now owns 4,739 shares of the information services provider’s stock worth $1,058,000 after acquiring an additional 254 shares in the last quarter. Armor Investment Advisors LLC lifted its holdings in Baidu by 28.6% during the first quarter. Armor Investment Advisors LLC now owns 1,215 shares of the information services provider’s stock worth $271,000 after acquiring an additional 270 shares in the last quarter. Finally, Crawford Investment Counsel Inc. lifted its holdings in Baidu by 39.6% during the first quarter. Crawford Investment Counsel Inc. now owns 1,199 shares of the information services provider’s stock worth $268,000 after acquiring an additional 340 shares in the last quarter. Institutional investors and hedge funds own 61.59% of the company’s stock.

About Baidu

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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