Baidu (NASDAQ:BIDU) Cut to “Sell” at Wall Street Zen
by Scott Moore · The Cerbat GemWall Street Zen cut shares of Baidu (NASDAQ:BIDU – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.
Several other brokerages have also recently issued reports on BIDU. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and upped their target price for the company from $134.00 to $180.00 in a report on Tuesday, February 3rd. Citigroup restated a “buy” rating on shares of Baidu in a report on Tuesday, January 13th. Barclays dropped their target price on Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Baidu in a report on Monday, December 29th. Finally, Zacks Research cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.05.
Check Out Our Latest Stock Analysis on BIDU
Baidu Stock Up 1.3%
Shares of NASDAQ:BIDU opened at $127.75 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average of $122.28 and a two-hundred day moving average of $128.25. The stock has a market cap of $43.47 billion, a P/E ratio of 80.35 and a beta of 0.44. Baidu has a 52-week low of $81.17 and a 52-week high of $165.30.
Hedge Funds Weigh In On Baidu
Hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its holdings in shares of Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the period. Binnacle Investments Inc purchased a new position in shares of Baidu during the 2nd quarter worth $29,000. Sankala Group LLC acquired a new position in Baidu during the 4th quarter worth about $46,000. Ameritas Advisory Services LLC lifted its stake in Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after acquiring an additional 372 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Baidu by 35.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares in the last quarter.
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.