Baidu Inc (NASDAQ:BIDU) has earned an average recommendation of “Buy” from the twenty-four research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $290.68.
A number of research firms recently weighed in on BIDU. Credit Suisse Group upgraded Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price target on the stock in a report on Monday, July 9th. BidaskClub upgraded Baidu from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research cut Baidu from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Deutsche Bank set a $337.00 price target on Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, ValuEngine upgraded Baidu from a “sell” rating to a “hold” rating in a report on Friday, September 21st.
A number of large investors have recently made changes to their positions in BIDU. GSA Capital Partners LLP acquired a new stake in Baidu during the 1st quarter valued at $482,000. Principal Financial Group Inc. grew its holdings in Baidu by 14.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,759 shares of the information services provider’s stock valued at $1,062,000 after buying an additional 586 shares during the last quarter. United Capital Financial Advisers LLC grew its holdings in Baidu by 27.7% during the 1st quarter. United Capital Financial Advisers LLC now owns 16,749 shares of the information services provider’s stock valued at $3,738,000 after buying an additional 3,638 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Baidu by 36.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,615 shares of the information services provider’s stock valued at $2,145,000 after buying an additional 2,550 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Baidu by 28.8% during the 1st quarter. Verition Fund Management LLC now owns 4,298 shares of the information services provider’s stock worth $959,000 after purchasing an additional 962 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.
BIDU opened at $200.72 on Thursday. The company has a market capitalization of $79.30 billion, a P/E ratio of 24.90, a PEG ratio of 0.97 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 1-year low of $189.00 and a 1-year high of $284.22.
Baidu announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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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