Baidu (NASDAQ:BIDU) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research note published on Tuesday morning.

BIDU has been the topic of a number of other research reports. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Bank of America decreased their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a report on Monday. Benchmark decreased their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $105.00 to $85.00 in a research note on Monday. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Baidu currently has an average rating of “Hold” and a consensus price target of $114.92.

Baidu Trading Up 1.0 %

Shares of BIDU opened at $83.51 on Tuesday. Baidu has a 1-year low of $78.95 and a 1-year high of $126.23. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $93.63 and its 200-day moving average price is $92.04. The firm has a market capitalization of $29.28 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.03 and a beta of 0.51.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Baidu in the 3rd quarter worth $1,054,000. SRN Advisors LLC grew its holdings in Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares during the period. Handelsbanken Fonder AB increased its position 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. Clear Harbor Asset Management LLC raised its stake in shares of Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after buying an additional 9,292 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Baidu during the 2nd quarter valued at about $606,000.

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.