Baidu (NASDAQ:BIDU) Rating Increased to Outperform at CICC Research

CICC Research upgraded shares of Baidu (NASDAQ:BIDU) from a neutral rating to an outperform rating in a research note issued to investors on Thursday morning, The Fly reports.

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BIDU has been the topic of several other research reports. Mizuho raised their price target on Baidu from $165.00 to $175.00 and gave the stock a buy rating in a report on Thursday. Zacks Investment Research downgraded Baidu from a hold rating to a sell rating in a report on Thursday, October 24th. BidaskClub downgraded Baidu from a sell rating to a strong sell rating in a report on Friday, November 1st. JPMorgan Chase & Co. started coverage on Baidu in a report on Wednesday, July 10th. They issued an overweight rating on the stock. Finally, ValuEngine raised Baidu from a sell rating to a hold rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $148.60.

Shares of BIDU stock traded up $2.69 during trading hours on Thursday, reaching $124.56. The company had a trading volume of 10,230,300 shares, compared to its average volume of 3,773,880. The company has a market capitalization of $37.75 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 16.14 and a beta of 1.72. Baidu has a twelve month low of $93.39 and a twelve month high of $196.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.61 and a current ratio of 2.61. The stock’s fifty day simple moving average is $104.66 and its 200 day simple moving average is $115.54.

A number of institutional investors and hedge funds have recently bought and sold shares of BIDU. FMR LLC increased its position in Baidu by 149.7% in the 1st quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock valued at $13,674,000 after acquiring an additional 49,735 shares during the period. Crossmark Global Holdings Inc. increased its position in Baidu by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,881 shares of the information services provider’s stock valued at $1,277,000 after acquiring an additional 200 shares during the period. DAVENPORT & Co LLC increased its position in Baidu by 83.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,543 shares of the information services provider’s stock valued at $416,000 after acquiring an additional 1,614 shares during the period. Hexavest Inc. increased its position in Baidu by 9.7% in the 2nd quarter. Hexavest Inc. now owns 31,931 shares of the information services provider’s stock valued at $3,747,000 after acquiring an additional 2,827 shares during the period. Finally, Exane Derivatives acquired a new stake in Baidu in the 2nd quarter valued at approximately $658,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

About Baidu

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.

Further Reading: Hold Rating

The Fly

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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