Baidu, Inc. (NASDAQ:BIDU) Receives $113.75 Average PT from Brokerages

Shares of Baidu, Inc. (NASDAQ:BIDU) have been given a consensus recommendation of “Hold” by the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $113.75.

A number of research firms have weighed in on BIDU. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Loop Capital decreased their target price on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th.

Baidu Trading Up 2.1 %

BIDU opened at $90.18 on Friday. Baidu has a one year low of $78.95 and a one year high of $120.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market cap of $31.62 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.19 and a beta of 0.46. The stock’s 50 day moving average price is $89.67 and its 200-day moving average price is $90.26.

Hedge Funds Weigh In On Baidu

Hedge funds and other institutional investors have recently modified their holdings of the stock. iA Global Asset Management Inc. acquired a new position in Baidu during the 2nd quarter valued at approximately $52,000. Denver PWM LLC acquired a new position in shares of Baidu in the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC increased its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the period. World Investment Advisors LLC purchased a new position in Baidu in the 3rd quarter worth $72,000. Finally, Grove Bank & Trust lifted its position in Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 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.