Baidu, Inc. (NASDAQ:BIDU) Receives $132.13 Average Target Price from Analysts

Baidu, Inc. (NASDAQ:BIDU) has received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $132.13.

BIDU has been the topic of several recent research reports. Benchmark reduced their price target on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Citigroup decreased their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, September 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Primecap Management Co. CA grew 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 buying an additional 1,753,577 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after purchasing an additional 67,331 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 worth $116,263,000 after purchasing an additional 14,878 shares during the last quarter. ARGA Investment Management LP boosted its position in Baidu by 6.5% during the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after purchasing an additional 62,830 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in 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 last quarter.

Baidu Trading Up 1.1 %

Shares of BIDU opened at $110.46 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. Baidu has a 12 month low of $79.68 and a 12 month high of $135.85. The stock has a market cap of $38.73 billion, a PE ratio of 14.79 and a beta of 0.49. The stock’s 50-day moving average is $88.84 and its two-hundred day moving average is $95.29.

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.