Baidu (NASDAQ:BIDU) Upgraded at StockNews.com

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

Other equities research analysts have also recently issued research reports about the company. HSBC cut Baidu from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Dbs Bank cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. downgraded shares of Baidu from an "overweight" rating to a "neutral" rating in a research report on Wednesday, November 27th. Finally, Citigroup dropped their target price on shares of Baidu from $142.00 to $141.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $113.75.

Baidu Stock Down 1.9 %

Shares of BIDU traded down $1.65 during midday trading on Friday, hitting $86.60. The stock had a trading volume of 1,940,122 shares, compared to its average volume of 3,552,100. The firm has a market cap of $30.37 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. The company has a 50 day simple moving average of $87.91 and a two-hundred day simple moving average of $89.86. Baidu has a twelve month low of $78.95 and a twelve month high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Primecap Management Co. CA boosted its position in shares of Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider's stock worth $1,033,238,000 after acquiring an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider's stock worth $1,127,330,000 after buying an additional 1,061,893 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new stake in shares of Baidu during the 3rd quarter worth $42,748,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Baidu in the third quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. bought a new position in Baidu in the third quarter valued at about $31,587,000.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.

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