ValuEngine upgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a hold rating in a research note issued to investors on Friday.

A number of other research analysts have also issued reports on the stock. BidaskClub upgraded shares of Baidu from a strong sell rating to a sell rating in a research note on Friday, September 14th. Susquehanna Bancshares started coverage on shares of Baidu in a research report on Friday, September 7th. They issued a positive rating and a $325.00 price target on the stock. Zacks Investment Research upgraded shares of Baidu from a sell rating to a hold rating in a research report on Friday, August 3rd. KeyCorp set a $297.00 price target on shares of Baidu and gave the stock a buy rating in a research report on Wednesday, August 1st. Finally, Deutsche Bank set a $337.00 price target on shares of Baidu and gave the stock a buy rating in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $295.19.

NASDAQ:BIDU opened at $228.85 on Friday. Baidu has a 1 year low of $207.74 and a 1 year high of $284.22. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $79.36 billion, a P/E ratio of 28.39, a PEG ratio of 0.97 and a beta of 1.54.

Baidu announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Baidu by 2.1% during the 2nd quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock valued at $3,432,507,000 after acquiring an additional 284,768 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Baidu by 51.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock valued at $708,826,000 after acquiring an additional 990,424 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Baidu by 3.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock valued at $644,976,000 after acquiring an additional 85,932 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Baidu by 14.4% during the 2nd quarter. Bank of America Corp DE now owns 1,560,081 shares of the information services provider’s stock valued at $379,099,000 after acquiring an additional 196,031 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Baidu by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 1,361,263 shares of the information services provider’s stock valued at $330,787,000 after acquiring an additional 51,048 shares in the last quarter. Institutional investors and hedge funds own 61.32% 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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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