StockNews.com Upgrades Baidu (NASDAQ:BIDU) to Buy

Baidu (NASDAQ:BIDU) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities analysts also recently issued reports about the stock. Benchmark reduced their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Susquehanna reduced their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Barclays lowered their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Citigroup lowered their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Down 3.3 %

Shares of BIDU traded down $3.16 during mid-day trading on Thursday, hitting $92.11. 4,908,139 shares of the company’s stock were exchanged, compared to its average volume of 3,668,818. The company has a 50-day simple moving average of $91.64 and a 200 day simple moving average of $95.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The company has a market cap of $32.30 billion, a PE ratio of 12.33 and a beta of 0.49. Baidu has a 52 week low of $79.68 and a 52 week high of $126.23.

Institutional Trading of Baidu

Hedge funds have recently added to or reduced their stakes in the company. Guinness Asset Management LTD increased its position in Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after buying an additional 100 shares during the period. Grove Bank & Trust increased its position in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares during the period. Ignite Planners LLC raised its stake in Baidu by 3.8% in the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after purchasing an additional 139 shares in the last quarter. Blue Trust Inc. boosted its holdings in Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after purchasing an additional 171 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Baidu by 8.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after purchasing an additional 196 shares in the last quarter.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.