Baidu (NASDAQ:BIDU) Rating Increased to Buy at Arete

Arete upgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Arete currently has $143.00 target price on the information services provider’s stock.

Several other research firms have also commented on BIDU. Benchmark decreased their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. Barclays decreased their target price on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, July 18th. Susquehanna lifted their price target on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Citigroup lifted their price target on shares of Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Baidu in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $114.27.

Baidu Price Performance

BIDU stock opened at $135.25 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu has a 12 month low of $74.71 and a 12 month high of $138.00. The firm has a market cap of $46.72 billion, a P/E ratio of 12.47 and a beta of 0.34. The company’s 50-day moving average price is $95.08 and its two-hundred day moving average price is $90.44.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in BIDU. Creekmur Asset Management LLC acquired a new stake in Baidu during the 1st quarter worth approximately $29,000. Binnacle Investments Inc acquired a new stake in Baidu during the 2nd quarter worth approximately $29,000. Assetmark Inc. boosted its position in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after buying an additional 192 shares during the period. UMB Bank n.a. boosted its position in Baidu by 80.3% during the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after buying an additional 179 shares during the period. Finally, Winthrop Capital Management LLC acquired a new stake in Baidu during the 2nd quarter worth approximately $39,000.

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.