Baidu (NASDAQ:BIDU) Downgraded to “Strong Sell” Rating by Zacks Research

Baidu (NASDAQ:BIDU) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

BIDU has been the topic of several other reports. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Baidu in a research report on Tuesday, May 19th. Bank of America dropped their price target on shares of Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. cut their price target on shares of Baidu from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Barclays decreased their price objective on Baidu from $128.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, July 13th. Finally, Susquehanna upped their price objective on Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.33.

Baidu Trading Down 1.4%

Shares of Baidu stock opened at $108.22 on Monday. Baidu has a 52-week low of $84.64 and a 52-week high of $165.30. The firm has a market capitalization of $36.82 billion, a PE ratio of -901.76, a price-to-earnings-growth ratio of 2.38 and a beta of 0.56. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The company’s fifty day moving average price is $120.47 and its two-hundred day moving average price is $127.89.

Institutional Investors Weigh In On Baidu

Several large investors have recently made changes to their positions in BIDU. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Baidu during the fourth quarter worth approximately $2,626,000. Yarbrough Capital LLC acquired a new position in shares of Baidu in the 4th quarter worth approximately $1,697,000. TT International Asset Management LTD acquired a new position in shares of Baidu in the 4th quarter worth approximately $33,727,000. Sumitomo Mitsui Trust Group Inc. grew its position in Baidu by 112.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 669,619 shares of the information services provider’s stock worth $87,492,000 after acquiring an additional 354,630 shares during the last quarter. Finally, Kercheville Advisors LLC grew its position in Baidu by 81.8% during the 4th quarter. Kercheville Advisors LLC now owns 18,275 shares of the information services provider’s stock worth $2,388,000 after acquiring an additional 8,225 shares during 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.