Baidu (NASDAQ:BIDU) Stock Rating Upgraded by Zacks Research

Key Points

• Analysts at Zacks Research upgraded Baidu from a "strong sell" to a "hold" rating, reflecting a more positive outlook for the company's stock.
• Citigroup increased its price target for Baidu from $138 to $140, maintaining a "buy" rating, while Zephirin Group set a "sell" rating with a target of $92.
• Currently, Baidu has an average rating of "hold" from analysts, with a consensus price target of $114.27 based on multiple recent evaluations.

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on BIDU. Wall Street Zen cut Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Jefferies Financial Group lifted their price target on Baidu from $108.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday. Susquehanna lifted their price target on Baidu from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Finally, Barclays reduced their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $114.27.

Baidu Stock Performance

BIDU stock traded up $0.10 during trading on Tuesday, hitting $135.35. 7,652,263 shares of the company traded hands, compared to its average volume of 7,195,407. The stock's 50-day simple moving average is $96.05 and its 200 day simple moving average is $90.76. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $46.76 billion, a PE ratio of 12.47 and a beta of 0.34. Baidu has a 1 year low of $74.71 and a 1 year high of $138.18.

Institutional Trading of Baidu

Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in shares of Baidu by 28.3% in the first quarter. Royal Bank of Canada now owns 160,713 shares of the information services provider's stock worth $14,791,000 after acquiring an additional 35,479 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of Baidu in the first quarter worth approximately $247,000. FNY Investment Advisers LLC acquired a new stake in shares of Baidu in the first quarter worth approximately $922,000. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu in the first quarter worth approximately $274,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock worth $3,874,000 after acquiring an additional 3,200 shares during the last quarter.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.