Shares of Baidu Inc (NASDAQ:BIDU) have been given an average rating of “Hold” by the twenty-six brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $170.73.
A number of equities analysts recently weighed in on the company. UBS Group reissued a “hold” rating and issued a $145.00 price target on shares of Baidu in a research note on Friday, July 5th. Macquarie set a $131.00 target price on Baidu and gave the company a “hold” rating in a research note on Thursday, July 4th. Loop Capital began coverage on Baidu in a research note on Monday, June 3rd. They set a “hold” rating and a $125.00 target price on the stock. Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 target price on the stock. in a research note on Friday, May 17th. Finally, Barclays lowered their target price on Baidu from $160.00 to $145.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th.
BIDU traded up $7.52 during trading on Wednesday, reaching $104.22. The company had a trading volume of 10,379,385 shares, compared to its average volume of 3,653,388. The firm’s 50-day simple moving average is $110.14 and its 200 day simple moving average is $142.07. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 4.79 and a beta of 1.70. Baidu has a 12-month low of $93.39 and a 12-month high of $234.88. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76.
Baidu declared that its Board of Directors has approved a share repurchase program on Thursday, May 16th that allows the company to buyback $1.00 billion in 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 usually an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds have recently modified their holdings of BIDU. Bank of Montreal Can grew its holdings in shares of 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 last quarter. Strs Ohio bought a new stake in shares of Baidu during the first quarter worth $9,891,000. YorkBridge Wealth Partners LLC grew its holdings in shares of 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 last quarter. Jacobs & Co. CA bought a new stake in shares of Baidu during the first quarter worth $2,144,000. Finally, Advisor Group Inc. grew its holdings in shares of Baidu by 17.2% during the second quarter. Advisor Group Inc. now owns 29,120 shares of the information services provider’s stock worth $3,417,000 after purchasing an additional 4,268 shares during the last quarter. Institutional investors own 58.10% 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.
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