Baidu (NASDAQ:BIDU) Stock Rating Upgraded by StockNews.com

Baidu (NASDAQ:BIDU) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other brokerages also recently weighed in on BIDU. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Monday. Jefferies Financial Group cut their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday. Bank of America cut their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.92.

Baidu Trading Up 1.6 %

Shares of NASDAQ:BIDU opened at $84.82 on Tuesday. The company has a market cap of $29.74 billion, a PE ratio of 10.38, a P/E/G ratio of 1.06 and a beta of 0.51. The company’s 50-day moving average price is $93.64 and its 200 day moving average price is $91.99. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $123.74. 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

Several hedge funds have recently made changes to their positions in the business. Guinness Asset Management LTD grew its stake in shares of Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. increased its position in shares of Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after acquiring an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC increased its position in shares of Baidu by 1.5% in the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 shares in the last quarter.

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.