Baidu (NASDAQ:BIDU) Receives Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Baidu (NASDAQ:BIDU) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $130.00 price objective on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Monday, November 25th. Nomura downgraded Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Susquehanna cut shares of 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 note on Monday, November 25th. Finally, JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Baidu presently has an average rating of “Hold” and a consensus price target of $111.25.

Baidu Stock Down 2.4 %

Shares of NASDAQ BIDU opened at $88.03 on Wednesday. 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 firm has a 50-day moving average price of $87.12 and a 200 day moving average price of $88.83. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25. The stock has a market capitalization of $30.87 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.23 and a beta of 0.46.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA lifted its position in Baidu by 1.5% during the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after buying an additional 176,150 shares during the period. Dodge & Cox raised its stake in Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock worth $498,796,000 after purchasing an additional 22,000 shares during the period. Sanders Capital LLC boosted its holdings in shares of Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock valued at $203,213,000 after buying an additional 207,966 shares during the period. Finally, Appaloosa LP increased its holdings in shares of Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock worth $128,818,000 after buying an additional 102,909 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.