Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Target Price at $113.75

Shares of Baidu, Inc. (NASDAQ:BIDU) have earned an average rating of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $113.75.

Several brokerages have weighed in on BIDU. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Finally, Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd.

Baidu Stock Performance

BIDU opened at $78.16 on Thursday. The firm has a market capitalization of $27.41 billion, a PE ratio of 9.57, a P/E/G ratio of 1.19 and a beta of 0.46. Baidu has a 12-month low of $77.19 and a 12-month high of $116.25. The firm has a 50 day moving average of $85.92 and a two-hundred day moving average of $89.19. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Institutional Investors Weigh In On Baidu

A number of large investors have recently made changes to their positions in BIDU. Primecap Management Co. CA grew its holdings 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 in the last quarter. International Assets Investment Management LLC increased its stake in 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 last quarter. Maple Rock Capital Partners Inc. purchased a new position in shares of Baidu during the 3rd quarter worth $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Baidu in the 3rd quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in Baidu in the third quarter valued at about $31,587,000.

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.