Baidu Inc (NASDAQ:BIDU) has earned an average recommendation of “Buy” from the twenty-five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $294.88.

BIDU has been the subject of several research reports. BidaskClub upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. BNP Paribas initiated coverage on shares of Baidu in a research report on Thursday, June 14th. They issued a “buy” rating for the company. Zacks Investment Research cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Credit Suisse Group upgraded shares of Baidu from a “neutral” rating to an “outperform” rating and set a $307.00 price objective for the company in a research report on Monday, July 9th. Finally, Deutsche Bank set a $337.00 price objective on shares of Baidu and gave the company a “buy” rating in a research report on Wednesday, August 1st.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in Baidu by 2.1% during the 2nd quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock worth $3,432,507,000 after acquiring an additional 284,768 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 worth $708,826,000 after acquiring an additional 990,424 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Baidu by 3.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock worth $644,976,000 after acquiring an additional 85,932 shares during the last quarter. Bank of America Corp DE boosted its stake in 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 worth $379,099,000 after acquiring an additional 196,031 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in 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 worth $330,787,000 after acquiring an additional 51,048 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

BIDU opened at $226.60 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $78.59 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 0.96 and a beta of 1.54. Baidu has a 1-year low of $207.74 and a 1-year high of $284.22.

Baidu declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the information services provider to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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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