Baidu (NASDAQ:BIDU) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a hold rating in a research note released on Sunday.

A number of other research analysts also recently commented on BIDU. Benchmark reaffirmed a “buy” rating on shares of Baidu in a report on Monday, January 12th. Citigroup restated a “buy” rating on shares of Baidu in a research report on Tuesday, January 13th. Zacks Research raised Baidu from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Bank of America boosted their target price on Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group increased their price target on Baidu from $159.00 to $181.00 and gave the company a “buy” rating in a report on Friday, January 2nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Baidu has an average rating of “Moderate Buy” and an average price target of $157.05.

Baidu Price Performance

BIDU stock opened at $145.93 on Friday. Baidu has a 52 week low of $74.71 and a 52 week high of $165.30. The firm has a market capitalization of $50.41 billion, a P/E ratio of 48.48 and a beta of 0.32. The company has a fifty day simple moving average of $137.80 and a two-hundred day simple moving average of $121.44. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Baidu

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its position in Baidu by 65.0% in the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 134 shares during the last quarter. Binnacle Investments Inc purchased a new stake in shares of Baidu during the second quarter valued at $29,000. Ameritas Advisory Services LLC boosted its stake in shares of Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the period. Winthrop Capital Management LLC bought a new position in shares of Baidu in the second quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Baidu in the 2nd quarter worth about $43,000.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.