Baidu (NASDAQ:BIDU) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Baidu (NASDAQ:BIDU) from a hold rating to a sell rating in a research note issued to investors on Thursday, BidAskClub reports.

A number of other research analysts have also recently issued reports on BIDU. Macquarie set a $131.00 price target on shares of Baidu and gave the stock a hold rating in a report on Thursday, July 4th. Daiwa Capital Markets cut shares of Baidu from a buy rating to a neutral rating in a report on Friday, May 17th. Nomura decreased their price target on shares of Baidu from $181.00 to $147.00 and set a neutral rating for the company in a report on Monday, May 20th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on shares of Diageo and gave the stock a neutral rating in a report on Wednesday. Finally, Mizuho raised their price target on shares of Bausch Health Companies from $41.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $178.17.

NASDAQ:BIDU traded down $0.60 during midday trading on Thursday, reaching $114.15. 115,418 shares of the stock traded hands, compared to its average volume of 3,001,820. Baidu has a 12-month low of $106.80 and a 12-month high of $274.00. The firm has a 50-day moving average price of $114.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76. The company has a market cap of $39.96 billion, a PE ratio of 14.64, a PEG ratio of 6.63 and a beta of 1.64.

Baidu declared that its board has authorized a share repurchase program on Thursday, May 16th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Baidu by 219.8% during the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after purchasing an additional 544,799 shares during the period. Strs Ohio purchased a new position in Baidu during the first quarter worth about $9,891,000. YorkBridge Wealth Partners LLC raised its stake in Baidu by 8.6% during the first quarter. YorkBridge Wealth Partners LLC now owns 2,739 shares of the information services provider’s stock worth $452,000 after purchasing an additional 218 shares during the period. Jacobs & Co. CA purchased a new stake in shares of Baidu in the 1st quarter valued at approximately $2,144,000. Finally, Callahan Advisors LLC raised its stake in shares of Baidu by 121.2% in the 1st quarter. Callahan Advisors LLC now owns 7,232 shares of the information services provider’s stock valued at $1,192,000 after acquiring an additional 3,963 shares during the period. Hedge funds and other institutional investors own 59.51% of the company’s stock.

Baidu Company Profile

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: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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