Baidu’s (BIDU) “Buy” Rating Reiterated at Benchmark

Baidu (NASDAQ:BIDU)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a report released on Friday,Benzinga reports. They currently have a $130.00 target price on the information services provider’s stock. Benchmark’s price target points to a potential upside of 50.46% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Barclays downgraded Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Citigroup reduced their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Finally, Mizuho reduced their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Stock Performance

NASDAQ BIDU opened at $86.40 on Friday. The business’s 50-day simple moving average is $84.95 and its 200-day simple moving average is $88.83. The firm has a market capitalization of $30.30 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.90 and a beta of 0.46. Baidu has a 1-year low of $77.19 and a 1-year high of $116.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of BIDU. U.S. Capital Wealth Advisors LLC acquired a new position in shares of Baidu in the 4th quarter worth approximately $556,000. Pacer Advisors Inc. raised its holdings in shares of Baidu by 3.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,275 shares of the information services provider’s stock worth $1,878,000 after purchasing an additional 752 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Baidu in the 4th quarter worth about $558,000. Blue Trust Inc. boosted its holdings in shares of Baidu by 45.5% in the 4th quarter. Blue Trust Inc. now owns 3,836 shares of the information services provider’s stock valued at $323,000 after buying an additional 1,200 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Baidu by 22.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111,186 shares of the information services provider’s stock valued at $9,374,000 after buying an additional 20,019 shares during the last quarter.

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.