Barclays Forecasts Strong Price Appreciation for Baidu (NASDAQ:BIDU) Stock

Baidu (NASDAQ:BIDU) had its price target hoisted by Barclays from $83.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the information services provider’s stock. Barclays‘s price objective would suggest a potential upside of 5.32% from the stock’s previous close.

Several other equities analysts have also issued reports on BIDU. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Mizuho cut their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday, November 25th. Finally, Benchmark restated a “buy” rating and set a $130.00 price objective on shares of Baidu in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $112.08.

Baidu Trading Down 3.9 %

Shares of BIDU stock traded down $3.65 during mid-day trading on Tuesday, hitting $90.20. The company’s stock had a trading volume of 2,931,492 shares, compared to its average volume of 3,984,507. The company has a market cap of $31.63 billion, a PE ratio of 11.03, a P/E/G ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The company’s fifty day simple moving average is $86.33 and its 200-day simple moving average is $88.57. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25.

Institutional Trading of Baidu

A number of hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA raised its holdings in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after purchasing an additional 176,150 shares during the period. Sanders Capital LLC lifted its stake in shares of Baidu by 0.7% during 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 buying an additional 18,334 shares in the last quarter. Appaloosa LP boosted its holdings in Baidu by 7.2% in 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 period. CoreView Capital Management Ltd raised its holdings in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after acquiring an additional 166,618 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 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.