Baidu’s (BIDU) “Overweight” Rating Reaffirmed at KeyCorp

KeyCorp reiterated their overweight rating on shares of Baidu (NASDAQ:BIDU) in a research report sent to investors on Wednesday, The Fly reports. KeyCorp currently has a $160.00 price target on the information services provider’s stock, down from their prior price target of $179.00.

Several other equities research analysts also recently weighed in on the stock. Nomura lowered their target price on shares of Baidu from $181.00 to $147.00 and set a neutral rating for the company in a research note on Monday, May 20th. Daiwa Capital Markets downgraded shares of Baidu from a buy rating to a neutral rating in a research note on Friday, May 17th. Zacks Investment Research downgraded shares of GenMark Diagnostics from a hold rating to a sell rating in a research note on Wednesday, April 24th. Credit Suisse Group set a $221.00 target price on shares of Baidu and gave the company a buy rating in a research note on Wednesday, April 10th. Finally, Loop Capital began coverage on shares of TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They issued a buy rating for the company. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $179.00.

BIDU traded up $0.35 during trading on Wednesday, hitting $114.75. The stock had a trading volume of 1,727,517 shares, compared to its average volume of 3,640,145. The stock has a market cap of $40.09 billion, a P/E ratio of 14.71, a PEG ratio of 6.74 and a beta of 1.64. Baidu has a twelve month low of $106.80 and a twelve month high of $274.00. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $114.20.

Baidu announced that its board has approved a stock buyback program on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Large investors have recently bought and sold shares of the company. Semmax Financial Advisors Inc. acquired a new stake in shares of Baidu during the fourth quarter worth $33,000. American Beacon Advisors Inc. lifted its stake in shares of Baidu by 71.2% during the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after buying an additional 84 shares during the period. Executive Wealth Management LLC acquired a new stake in shares of Baidu during the fourth quarter worth $45,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Baidu during the first quarter worth $45,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of Baidu by 4,837.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock worth $65,000 after buying an additional 387 shares during the period. Institutional investors and hedge funds own 59.51% of the company’s stock.

About Baidu

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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