Baidu (NASDAQ:BIDU) Upgraded to “Buy” at StockNews.com

Baidu (NASDAQ:BIDUGet Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

BIDU has been the subject of several other research reports. Morgan Stanley cut their target price on Baidu from $140.00 to $120.00 in a research report on Wednesday. Sanford C. Bernstein raised their target price on Baidu from $92.00 to $109.00 in a research report on Wednesday. UBS Group cut their target price on Baidu from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $160.00 to $200.00 in a research report on Wednesday, August 31st. Finally, Mizuho cut their price objective on Baidu from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.88.

Baidu Price Performance

Shares of Baidu stock traded up $1.92 during midday trading on Thursday, hitting $97.00. 3,442,465 shares of the company were exchanged, compared to its average volume of 3,724,099. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a market cap of $33.52 billion, a P/E ratio of 59.51, a PEG ratio of 0.72 and a beta of 0.56. Baidu has a 52 week low of $73.58 and a 52 week high of $171.87. The firm has a 50 day simple moving average of $101.60 and a 200-day simple moving average of $125.34.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Baidu in the 3rd quarter valued at $9,001,000. Advisors Capital Management LLC increased its stake in shares of Baidu by 1.0% in the 3rd quarter. Advisors Capital Management LLC now owns 32,252 shares of the information services provider’s stock valued at $2,949,000 after buying an additional 326 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Baidu by 17.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 44,352 shares of the information services provider’s stock valued at $5,211,000 after buying an additional 6,572 shares during the period. Pathstone Family Office LLC acquired a new stake in shares of Baidu during the third quarter worth $435,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of Baidu during the third quarter worth $5,240,000. 26.55% of the stock is owned by institutional investors and hedge funds.

Baidu Company Profile

(Get Rating)

Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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