Baidu (NASDAQ:BIDU) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research note issued to investors on Thursday.

A number of other research analysts also recently commented on the company. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Jefferies Financial Group cut their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Bank of America decreased their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Baidu presently has an average rating of “Moderate Buy” and an average target price of $128.36.

Baidu Stock Performance

BIDU stock opened at $94.39 on Thursday. The firm has a 50 day simple moving average of $91.83 and a 200 day simple moving average of $94.99. Baidu has a 52 week low of $79.68 and a 52 week high of $126.23. The stock has a market cap of $33.10 billion, a P/E ratio of 12.64 and a beta of 0.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

Hedge Funds Weigh In On Baidu

A number of hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA boosted its position in shares of Baidu by 17.2% during 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 acquiring an additional 1,753,577 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after purchasing an additional 67,331 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after purchasing an additional 14,878 shares during the period. ARGA Investment Management LP raised its holdings in shares of Baidu by 6.5% in the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after buying an additional 62,830 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after buying an additional 338,110 shares during the period.

Baidu Company Profile

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.