Baidu, Inc. (NASDAQ:BIDU) Given Consensus Rating of “Moderate Buy” by Brokerages

Baidu, Inc. (NASDAQ:BIDU) has earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $132.13.

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th. Jefferies Financial Group cut their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup dropped their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th.

Baidu Stock Up 1.1 %

BIDU opened at $110.46 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $38.73 billion, a price-to-earnings ratio of 14.79 and a beta of 0.49. Baidu has a one year low of $79.68 and a one year high of $135.85. The business’s fifty day moving average is $88.84 and its two-hundred day moving average is $95.29.

Hedge Funds Weigh In On Baidu

A number of hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB raised its position in shares of Baidu by 14.5% in the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after buying an additional 50,599 shares during the period. SRN Advisors LLC lifted its stake in shares of Baidu by 111.5% in the 1st 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 in the last quarter. Perpetual Ltd lifted its stake in shares of Baidu by 45.4% in the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 45,975 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in shares of Baidu during the 1st quarter worth about $216,000. Finally, Clear Harbor Asset Management LLC raised its holdings in Baidu by 126.5% in the second quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock valued at $970,000 after buying an additional 6,261 shares during the period.

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.