Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Target Price at $158.05

Baidu, Inc. (NASDAQ:BIDU) has been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $158.0526.

Several research firms recently issued reports on BIDU. Susquehanna lifted their price target on shares of Baidu from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of Baidu from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. BNP Paribas Exane began coverage on shares of Baidu in a research report on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. Zacks Research downgraded shares of Baidu from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 16th. Finally, Citigroup reissued a “buy” rating on shares of Baidu in a research report on Tuesday, January 13th.

Baidu Stock Performance

NASDAQ BIDU opened at $125.98 on Wednesday. The company has a fifty day simple moving average of $119.90 and a 200 day simple moving average of $127.79. Baidu has a 12-month low of $81.17 and a 12-month high of $165.30. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.22. The company has a market cap of $42.87 billion, a P/E ratio of 79.24 and a beta of 0.53.

Hedge Funds Weigh In On Baidu

Hedge funds have recently bought and sold shares of the company. Binnacle Investments Inc purchased a new position in Baidu during the 2nd quarter worth $29,000. UMB Bank n.a. boosted its holdings in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares during the last quarter. Sankala Group LLC purchased a new position in Baidu during the 4th quarter worth $46,000. Ameritas Advisory Services LLC boosted its holdings in Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after acquiring an additional 372 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in Baidu by 35.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock worth $53,000 after acquiring an additional 105 shares during the last quarter.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.