Baidu, Inc. (NASDAQ:BIDU) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $135.13.

A number of research firms have issued reports on BIDU. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Susquehanna cut their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Jefferies Financial Group cut their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $130.00 to $97.00 in a report on Friday, August 23rd.

Institutional Trading of Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA boosted its position in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after buying an additional 1,753,577 shares during the period. Federated Hermes Inc. grew its stake in shares of Baidu by 3.7% in the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after purchasing an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after purchasing an additional 14,878 shares during the period. ARGA Investment Management LP raised its position in Baidu by 6.5% during the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after purchasing an additional 62,830 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in 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 buying an additional 338,110 shares during the period.

Baidu Trading Up 0.1 %

Shares of Baidu stock opened at $84.07 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The firm has a 50-day moving average of $87.46 and a 200-day moving average of $96.10. Baidu has a 52-week low of $79.68 and a 52-week high of $139.32. The stock has a market cap of $29.48 billion, a PE ratio of 11.25 and a beta of 0.48.

Baidu Company Profile

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.