Benchmark Reiterates Buy Rating for Baidu (NASDAQ:BIDU)

Benchmark reissued their buy rating on shares of Baidu (NASDAQ:BIDU) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $130.00 price objective on the information services provider’s stock.

BIDU has been the subject of a number of other research reports. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Mizuho lowered their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.75.

Baidu Stock Up 4.6 %

BIDU opened at $86.40 on Friday. The firm has a 50-day simple moving average of $84.92 and a two-hundred day simple moving average of $88.84. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25. The company has a market capitalization of $30.30 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently modified their holdings of BIDU. International Assets Investment Management LLC increased its position in shares of Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu during the third quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Baidu during the third quarter worth approximately $36,272,000. Hhlr Advisors LTD. purchased a new position in shares of Baidu during the third quarter worth approximately $31,587,000. Finally, SG Americas Securities LLC increased its holdings in Baidu by 147.5% during the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after buying an additional 227,338 shares during the period.

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.