A number of other brokerages have also issued reports on BIDU. Credit Suisse Group set a $221.00 target price on shares of Baidu and gave the company a buy rating in a research note on Wednesday, April 10th. Benchmark decreased their target price on shares of Baidu from $245.00 to $180.00 and set a buy rating for the company in a research note on Friday, May 17th. Mizuho lifted their target price on shares of Bausch Health Companies from $41.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Zacks Investment Research lowered shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, April 24th. Finally, Nomura decreased their target price on shares of Baidu from $181.00 to $147.00 and set a neutral rating for the company in a research note on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $178.17.
Baidu stock opened at $114.90 on Thursday. The business has a 50 day moving average price of $114.22. Baidu has a 52 week low of $106.80 and a 52 week high of $274.00. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 6.19 and a beta of 1.64.
Baidu announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in Baidu in the 2nd quarter worth $241,000. Xact Kapitalforvaltning AB raised its holdings in Baidu by 14.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 55,601 shares of the information services provider’s stock worth $6,525,000 after acquiring an additional 7,100 shares during the period. Exane Derivatives bought a new position in Baidu in the 2nd quarter worth $658,000. Hexavest Inc. raised its holdings in Baidu by 9.7% in the 2nd quarter. Hexavest Inc. now owns 31,931 shares of the information services provider’s stock worth $3,747,000 after acquiring an additional 2,827 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in Baidu by 83.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,543 shares of the information services provider’s stock worth $416,000 after acquiring an additional 1,614 shares during the period. 59.51% of the stock is owned by institutional investors and hedge funds.
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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