Baidu, Inc. (NASDAQ:BIDU) Receives $135.13 Consensus Price Target from Analysts

Baidu, Inc. (NASDAQ:BIDU) has earned an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $135.13.

BIDU has been the subject of several research reports. Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Citigroup cut their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Loop Capital cut their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its holdings in Baidu by 14.3% in the 4th quarter. Truist Financial Corp now owns 9,749 shares of the information services provider’s stock worth $1,161,000 after acquiring an additional 1,222 shares during the period. Kestra Private Wealth Services LLC bought a new position in shares of Baidu in the fourth quarter worth $219,000. Victory Capital Management Inc. grew its stake in shares of Baidu by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 17,798 shares of the information services provider’s stock worth $2,120,000 after purchasing an additional 950 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Baidu by 32.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,442 shares of the information services provider’s stock valued at $1,244,000 after buying an additional 2,563 shares in the last quarter. Finally, Spire Wealth Management boosted its position in shares of Baidu by 433.7% in the 4th quarter. Spire Wealth Management now owns 6,202 shares of the information services provider’s stock valued at $739,000 after purchasing an additional 5,040 shares during the period.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $81.01 on Friday. The firm has a market capitalization of $28.41 billion, a P/E ratio of 10.84 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. Baidu has a one year low of $79.68 and a one year high of $140.93. The company’s fifty day moving average is $87.89 and its two-hundred day moving average is $96.68.

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.