Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Target Price at $154.89

by · The Cerbat Gem

Baidu, Inc. (NASDAQ:BIDU – Get Free Report) has been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $152.9444.

A number of brokerages recently commented on BIDU. JPMorgan Chase & Co. dropped their target price on Baidu from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Susquehanna reduced their price target on shares of Baidu from $140.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 28th. Benchmark decreased their price objective on shares of Baidu from $215.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Baidu in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th.

Get Our Latest Report on Baidu

Baidu Price Performance

Shares of BIDU stock opened at $99.47 on Tuesday. Baidu has a fifty-two week low of $89.60 and a fifty-two week high of $165.30. The firm has a market capitalization of $33.84 billion, a PE ratio of -47.14, a P/E/G ratio of 4.39 and a beta of 0.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. The stock’s 50-day simple moving average is $105.49 and its 200-day simple moving average is $116.84.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Empowered Funds LLC acquired a new position in Baidu in the first quarter valued at approximately $334,000. EverSource Wealth Advisors LLC grew its stake in shares of Baidu by 71.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $101,000 after purchasing an additional 493 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Baidu by 53.3% during the 2nd quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock valued at $829,000 after purchasing an additional 3,362 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Baidu by 2.6% during the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock valued at $4,291,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in shares of Baidu in the 2nd quarter valued at $254,000.

About Baidu

(Get Free Report)

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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