Baidu (NASDAQ:BIDU) Stock Rating Reaffirmed by Credit Suisse Group

Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a note issued to investors on Wednesday, Briefing.com Automated Import reports.

BIDU has been the topic of several other reports. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Oppenheimer set a $5.00 target price on shares of VolitionRX and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho raised their target price on shares of Bausch Health Companies from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Nomura reduced their price objective on shares of Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, May 20th. Finally, Loop Capital started coverage on TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. Baidu has a consensus rating of “Hold” and a consensus price target of $178.17.

Baidu stock opened at $111.79 on Wednesday. The business’s 50 day moving average price is $114.22. Baidu has a fifty-two week low of $106.80 and a fifty-two week high of $267.30. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 6.12 and a beta of 1.64. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34.

Baidu declared that its board has authorized a share buyback plan on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 1.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC increased its stake in shares of Baidu by 2.5% in the 4th quarter. Cetera Advisor Networks LLC now owns 2,654 shares of the information services provider’s stock valued at $424,000 after purchasing an additional 65 shares in the last quarter. Sage Capital Advisors llc increased its stake in shares of Baidu by 0.8% in the 1st quarter. Sage Capital Advisors llc now owns 8,040 shares of the information services provider’s stock valued at $1,325,000 after purchasing an additional 67 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of Baidu by 12.6% in the 1st quarter. Kistler Tiffany Companies LLC now owns 663 shares of the information services provider’s stock valued at $109,000 after purchasing an additional 74 shares in the last quarter. American Beacon Advisors Inc. increased its stake in shares of Baidu by 71.2% in the 1st quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Baidu by 5.5% in the 1st quarter. Independent Advisor Alliance now owns 1,735 shares of the information services provider’s stock valued at $286,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 59.32% 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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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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