Baidu’s (BIDU) Outperform Rating Reaffirmed at Daiwa Capital Markets

Daiwa Capital Markets restated their outperform rating on shares of Baidu (NASDAQ:BIDU) in a research note released on Tuesday, Marketbeat Ratings reports.

Several other research firms also recently weighed in on BIDU. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Citigroup lowered their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday, November 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.08.

Baidu Stock Performance

Baidu stock opened at $90.16 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a fifty day moving average of $87.10 and a two-hundred day moving average of $88.79. The company has a market capitalization of $31.61 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 2.03 and a beta of 0.46. Baidu has a fifty-two week low of $77.19 and a fifty-two week high of $116.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rialto Wealth Management LLC acquired a new position in shares of Baidu during the fourth quarter worth about $42,000. Sycomore Asset Management acquired a new position in shares of Baidu during the fourth quarter worth about $51,000. GeoWealth Management LLC lifted its stake in shares of Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after purchasing an additional 308 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu during the third quarter worth about $82,000.

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.