Other research analysts also recently issued reports about the stock. Macquarie set a $131.00 target price on shares of Baidu and gave the company a hold rating in a research note on Thursday, July 4th. Deutsche Bank cut shares of Baidu from a buy rating to a hold rating and set a $147.00 price target on the stock. in a report on Friday, May 17th. Nomura cut their price target on shares of Baidu from $181.00 to $147.00 and set a neutral rating on the stock in a report on Monday, May 20th. Credit Suisse Group reaffirmed an outperform rating on shares of Baidu in a report on Wednesday, July 17th. Finally, Barclays cut their price target on shares of Baidu from $160.00 to $145.00 and set an equal weight rating on the stock in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $165.84.
Shares of BIDU stock opened at $101.85 on Wednesday. The company has a market capitalization of $37.69 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 18.36 and a beta of 1.70. The firm has a fifty day simple moving average of $108.14 and a 200-day simple moving average of $140.12. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a twelve month low of $93.39 and a twelve month high of $234.88.
Baidu announced that its Board of Directors has authorized a share buyback program on Thursday, May 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
Several large investors have recently modified their holdings of the business. Nomura Holdings Inc. increased its holdings in shares of Baidu by 111.1% in the 2nd quarter. Nomura Holdings Inc. now owns 85,542 shares of the information services provider’s stock worth $10,094,000 after acquiring an additional 45,013 shares during the period. Cresset Asset Management LLC increased its holdings in shares of Baidu by 86.3% in the 2nd quarter. Cresset Asset Management LLC now owns 5,894 shares of the information services provider’s stock worth $692,000 after acquiring an additional 2,730 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Baidu by 12.7% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 9,294 shares of the information services provider’s stock worth $1,091,000 after acquiring an additional 1,048 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Baidu in the 2nd quarter worth about $27,000. Finally, Colony Group LLC acquired a new stake in shares of Baidu in the 2nd quarter worth about $217,000. 58.10% of the stock is currently 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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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