Baidu, Inc. (NASDAQ:BIDU) Receives $146.60 Consensus Target Price from Analysts

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $144.07.

BIDU has been the subject of a number of recent research reports. Bank of America decreased their price target on shares of Baidu from $140.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. HSBC decreased their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Barclays reduced their price objective on shares of Baidu from $133.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, Sanford C. Bernstein reduced their price objective on shares of Baidu from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Tuesday.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently bought and sold shares of BIDU. Primecap Management Co. CA increased its stake in Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after buying an additional 1,753,577 shares during the period. National Bank of Canada FI grew its stake in shares of Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after purchasing an additional 900,284 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares during the period. Hsbc Holdings PLC grew its stake in shares of Baidu by 139.3% during the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after purchasing an additional 312,467 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after purchasing an additional 295,700 shares during the period.

Baidu Stock Up 3.2 %

Shares of Baidu stock opened at $88.97 on Monday. Baidu has a 52-week low of $79.68 and a 52-week high of $151.00. The company has a 50 day moving average of $89.57 and a 200 day moving average of $98.94. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $31.20 billion, a P/E ratio of 11.91 and a beta of 0.49.

About Baidu

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.