Benchmark Reaffirms “Buy” Rating for Baidu (NASDAQ:BIDU)

Benchmark reiterated their buy rating on shares of Baidu (NASDAQ:BIDU) in a research report sent to investors on Wednesday morning,Benzinga reports. Benchmark currently has a $130.00 price objective on the information services provider’s stock.

Several other brokerages also recently commented on BIDU. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday. Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Finally, JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Down 2.4 %

Shares of NASDAQ BIDU opened at $88.03 on Wednesday. The stock has a fifty day moving average price of $87.12 and a 200 day moving average price of $88.83. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 12-month low of $77.19 and a 12-month high of $116.25. The company has a market cap of $30.87 billion, a P/E ratio of 10.77, a P/E/G ratio of 2.23 and a beta of 0.46.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Primecap Management Co. CA raised its position in shares of Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Dodge & Cox raised its holdings in shares of Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock worth $498,796,000 after purchasing an additional 22,000 shares during the period. Sanders Capital LLC lifted its position in shares of Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after buying an additional 18,334 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Baidu by 9.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock valued at $203,213,000 after buying an additional 207,966 shares during the period. Finally, Appaloosa LP grew its position in shares of Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock valued at $128,818,000 after buying an additional 102,909 shares during 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.