Barclays Raises Baidu (NASDAQ:BIDU) Price Target to $95.00

Baidu (NASDAQ:BIDU) had its target price lifted by research analysts at Barclays from $83.00 to $95.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Barclays‘s price target indicates a potential upside of 1.78% from the company’s previous close.

A number of other brokerages have also weighed in on BIDU. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Benchmark reissued a “buy” rating and set a $130.00 price target on shares of Baidu in a research note on Friday, January 24th. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Finally, China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Hold” and a consensus target price of $112.08.

Baidu Price Performance

Baidu stock opened at $93.34 on Tuesday. The stock has a fifty day moving average of $86.40 and a 200-day moving average of $88.57. The stock has a market capitalization of $32.73 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rialto Wealth Management LLC bought a new stake in Baidu during the 4th quarter valued at $42,000. Sycomore Asset Management bought a new stake in Baidu during the 4th quarter worth approximately $51,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC bought a new position in shares of Baidu in the third quarter valued at approximately $72,000. Finally, Grove Bank & Trust boosted its position in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during the last quarter.

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.