Baidu (NASDAQ:BIDU) Receives Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Baidu (NASDAQ:BIDU) in a report released on Friday,Benzinga reports. The brokerage currently has a $130.00 price objective on the information services provider’s stock.

Other equities research analysts have also issued reports about the stock. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Mizuho decreased their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.75.

Baidu Stock Performance

BIDU stock opened at $86.40 on Friday. The stock has a market capitalization of $30.30 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46. Baidu has a 12-month low of $77.19 and a 12-month high of $116.25. 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 stock’s 50 day simple moving average is $84.92 and its 200 day simple moving average is $88.84.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust boosted its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares during the period. Transamerica Financial Advisors Inc. bought a new position in Baidu in the 3rd quarter worth $82,000. Denver PWM LLC boosted its holdings in Baidu by 28.5% in the 3rd quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Baidu by 102.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 555 shares during the last quarter.

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.