Zacks Investment Research Lowers Baidu (BIDU) to Sell
Zacks Investment Research lowered shares of Baidu (NASDAQ:BIDU) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Baidu from a hold rating to a sell rating in a research note on Saturday, December 30th. Bank of America reaffirmed a buy rating and issued a $301.00 price target on shares of Baidu in a research note on Sunday, November 19th. Oppenheimer upped their price target on shares of Baidu from $250.00 to $295.00 and gave the stock an outperform rating in a research note on Tuesday, October 31st. Barclays set a $240.00 price target on shares of Baidu and gave the stock a hold rating in a research note on Monday, October 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Baidu from $230.00 to $225.00 and set a neutral rating on the stock in a research note on Monday, October 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Baidu has an average rating of Buy and an average price target of $238.19.
A number of hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its stake in shares of Baidu by 37.0% in the third quarter. Prudential Financial Inc. now owns 215,617 shares of the information services provider’s stock valued at $53,406,000 after buying an additional 58,230 shares during the period. Atlantic Trust Group LLC bought a new stake in shares of Baidu in the third quarter valued at about $2,033,000. AustralianSuper Pty Ltd bought a new stake in shares of Baidu in the third quarter valued at about $13,276,000. Parametric Portfolio Associates LLC lifted its stake in shares of Baidu by 7.0% in the third quarter. Parametric Portfolio Associates LLC now owns 174,497 shares of the information services provider’s stock valued at $43,221,000 after buying an additional 11,391 shares during the period. Finally, Shelton Capital Management lifted its stake in shares of Baidu by 6.3% in the third quarter. Shelton Capital Management now owns 22,071 shares of the information services provider’s stock valued at $5,467,000 after buying an additional 1,302 shares during the period. Institutional investors own 63.95% of the company’s stock.
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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.
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