Baidu (BIDU) Upgraded to “Outperform” at Daiwa Capital Markets

Baidu (NASDAQ:BIDU) was upgraded by equities research analysts at Daiwa Capital Markets from a “hold” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.

BIDU has been the topic of a number of other reports. Oppenheimer raised their price objective on Baidu from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. JPMorgan Chase & Co. cut their target price on Baidu from $230.00 to $225.00 and set a “neutral” rating on the stock in a research note on Monday, October 30th. Wells Fargo & Co reissued an “outperform” rating and issued a $300.00 target price (up from $290.00) on shares of Baidu in a research note on Wednesday. Bank of America reissued a “buy” rating and issued a $301.00 target price on shares of Baidu in a research note on Sunday, November 19th. Finally, BidaskClub raised Baidu from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Baidu presently has an average rating of “Hold” and a consensus price target of $245.01.

Shares of Baidu (NASDAQ BIDU) traded up $10.29 during trading hours on Wednesday, hitting $235.89. The stock had a trading volume of 7,946,049 shares, compared to its average volume of 2,960,000. Baidu has a 52-week low of $166.00 and a 52-week high of $274.97. The company has a market capitalization of $81,910.00, a PE ratio of 32.76, a P/E/G ratio of 1.54 and a beta of 1.86. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.34.

A number of institutional investors have recently bought and sold shares of BIDU. Schwab Charles Investment Management Inc. boosted its position in Baidu by 53.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 17,872 shares of the information services provider’s stock valued at $3,197,000 after acquiring an additional 6,246 shares in the last quarter. Ark Investment Management LLC boosted its position in Baidu by 30.9% during the 2nd quarter. Ark Investment Management LLC now owns 102,901 shares of the information services provider’s stock valued at $18,405,000 after acquiring an additional 24,302 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Baidu by 28.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 3,896 shares of the information services provider’s stock valued at $697,000 after acquiring an additional 864 shares in the last quarter. Verition Fund Management LLC bought a new stake in Baidu during the 2nd quarter valued at approximately $605,000. Finally, Advisory Services Network LLC boosted its position in Baidu by 13.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,126 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 244 shares in the last quarter. 63.73% of the stock is currently owned by institutional investors and hedge funds.

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Baidu Company Profile

Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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