Baidu (NASDAQ:BIDU) received a $179.00 price objective from research analysts at KeyCorp in a report issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the information services provider’s stock. KeyCorp’s price objective indicates a potential upside of 52.28% from the stock’s current price.
A number of other research analysts have also recently weighed in on BIDU. Zacks Investment Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 26th. BidaskClub cut Baidu from a “sell” rating to a “strong sell” rating in a research report on Friday, May 10th. Benchmark dropped their price objective on Baidu from $245.00 to $180.00 and set a “buy” rating for the company in a research report on Friday. Macquarie cut Baidu from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a research report on Friday. Finally, Deutsche Bank cut Baidu from a “buy” rating to a “hold” rating and set a $147.00 price objective for the company. in a research report on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Baidu currently has an average rating of “Hold” and a consensus target price of $196.13.
Shares of BIDU stock traded down $10.76 during mid-day trading on Friday, reaching $117.55. The stock had a trading volume of 17,742,985 shares, compared to its average volume of 3,526,292. Baidu has a 12-month low of $117.16 and a 12-month high of $274.00. The stock has a market cap of $44.82 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.66 and a beta of 1.44. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.31.
Baidu announced that its Board of Directors has initiated a share repurchase program on Thursday, May 16th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 1.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently modified their holdings of BIDU. Norges Bank acquired a new stake in Baidu in the 4th quarter worth about $526,416,000. Harris Associates L P boosted its stake in Baidu by 49.6% in the 4th quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock worth $500,422,000 after buying an additional 1,046,123 shares during the last quarter. BlackRock Inc. boosted its stake in Baidu by 4.3% in the 1st quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock worth $2,602,096,000 after buying an additional 653,684 shares during the last quarter. Bank of Montreal Can boosted its stake in Baidu by 219.8% in the 1st quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock worth $130,674,000 after buying an additional 544,799 shares during the last quarter. Finally, Investec Asset Management LTD boosted its stake in Baidu by 23.4% in the 4th quarter. Investec Asset Management LTD now owns 2,551,426 shares of the information services provider’s stock worth $404,656,000 after buying an additional 484,147 shares during the last quarter. 60.69% of the stock is currently owned by hedge funds and other institutional investors.
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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