Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Price Target at $113.75

Baidu, Inc. (NASDAQ:BIDU) has been given an average recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $113.75.

A number of research analysts recently commented on BIDU shares. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Mizuho lowered their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $88.63 on Monday. The firm has a fifty day simple moving average of $85.94 and a two-hundred day simple moving average of $88.56. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $31.08 billion, a P/E ratio of 10.85, a PEG ratio of 2.08 and a beta of 0.46.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in Baidu by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,717 shares of the information services provider’s stock worth $1,013,000 after acquiring an additional 465 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Baidu in the 2nd quarter worth approximately $606,000. Truist Financial Corp boosted its stake in shares of Baidu by 3.3% during the second quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock valued at $5,310,000 after purchasing an additional 1,956 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Baidu during the second quarter valued at approximately $601,000. Finally, Handelsbanken Fonder AB raised its stake in Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after buying an additional 15,000 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.