Wall Street Zen Downgrades Baidu (NASDAQ:BIDU) to Sell

Baidu (NASDAQ:BIDU) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently issued reports on BIDU. Citigroup reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, January 13th. Susquehanna reiterated a “neutral” rating and issued a $110.00 target price on shares of Baidu in a research note on Monday, November 24th. Nomura increased their price target on shares of Baidu from $178.00 to $196.00 and gave the company a “buy” rating in a report on Monday, January 26th. JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and raised their price target for the company from $110.00 to $188.00 in a research report on Monday, November 24th. Finally, Benchmark reaffirmed a “buy” rating on shares of Baidu in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.78.

Baidu Trading Down 2.7%

NASDAQ BIDU opened at $153.18 on Friday. Baidu has a 12 month low of $74.71 and a 12 month high of $165.30. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The stock’s fifty day moving average price is $135.21 and its 200-day moving average price is $119.14. The stock has a market cap of $52.92 billion, a P/E ratio of 50.89 and a beta of 0.30.

Institutional Trading of Baidu

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Baidu by 65.0% in the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 134 shares during the period. Binnacle Investments Inc purchased a new stake in shares of Baidu during the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC increased its position in shares of Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the last quarter. Winthrop Capital Management LLC bought a new position in shares of Baidu in the 2nd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in shares of Baidu in the second quarter worth approximately $43,000.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.