UBS Group set a $280.00 target price on Baidu (NASDAQ:BIDU) in a research note issued to investors on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the information services provider’s stock.

Several other equities research analysts also recently issued reports on BIDU. BidaskClub downgraded Baidu from a sell rating to a strong sell rating in a report on Saturday, October 6th. Zacks Investment Research downgraded Baidu from a strong-buy rating to a hold rating in a report on Tuesday, July 3rd. Credit Suisse Group set a $313.00 price target on Baidu and gave the stock a buy rating in a report on Monday, October 1st. KeyCorp set a $297.00 price target on Baidu and gave the stock a buy rating in a report on Wednesday, August 1st. Finally, ValuEngine downgraded Baidu from a buy rating to a hold rating in a report on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $292.95.

Shares of Baidu stock opened at $204.36 on Tuesday. Baidu has a 1 year low of $189.00 and a 1 year high of $284.22. The stock has a market capitalization of $79.30 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 0.97 and a beta of 1.49. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25.

Baidu declared that its board has initiated a share buyback program on Wednesday, June 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to repurchase up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Several large investors have recently bought and sold shares of BIDU. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 31,003.6% during the second quarter. Advisors Asset Management Inc. now owns 1,103,867 shares of the information services provider’s stock worth $1,547,000 after buying an additional 1,100,318 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Baidu by 51.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,916,981 shares of the information services provider’s stock worth $708,826,000 after buying an additional 990,424 shares in the last quarter. Waddell & Reed Financial Inc. bought a new position in shares of Baidu during the second quarter worth about $222,598,000. Mainstay Capital Management LLC ADV bought a new position in shares of Baidu during the second quarter worth about $3,069,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Baidu by 1,443.7% during the second quarter. Acadian Asset Management LLC now owns 679,601 shares of the information services provider’s stock worth $165,141,000 after buying an additional 635,577 shares in the last quarter. Institutional investors and hedge funds own 61.32% 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 mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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