Brokerages Set Baidu, Inc. (NASDAQ:BIDU) PT at $132.13

Shares of Baidu, Inc. (NASDAQ:BIDU) have received a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $132.13.

BIDU has been the topic of several research reports. Susquehanna decreased their target price on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Bank of America decreased their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Benchmark reduced their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, HSBC lowered shares of 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 Stock Down 5.1 %

BIDU opened at $109.23 on Tuesday. The company has a market cap of $38.30 billion, a PE ratio of 14.62 and a beta of 0.49. Baidu has a twelve month low of $79.68 and a twelve month high of $135.85. The company has a 50-day moving average price of $88.41 and a 200 day moving average price of $95.31. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of Baidu by 14.5% in the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC lifted its stake in Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Perpetual Ltd lifted its stake in Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 45,975 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new position in shares of Baidu during the first quarter worth $216,000. Finally, Clear Harbor Asset Management LLC grew its stake in shares of Baidu by 126.5% in the second quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock valued at $970,000 after buying an additional 6,261 shares in 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.