Baidu, Inc. (NASDAQ:BIDU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Baidu, Inc. (NASDAQ:BIDU) has been assigned an average rating of “Moderate Buy” from the twenty-three brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $162.5789.

Several brokerages recently issued reports on BIDU. BNP Paribas Exane began coverage on shares of Baidu in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 target price for the company. China Renaissance upgraded shares of Baidu from a “hold” rating to a “buy” rating and raised their target price for the company from $134.00 to $180.00 in a research note on Tuesday, February 3rd. Nomura raised their target price on shares of Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Morgan Stanley raised their target price on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Finally, Susquehanna raised their target price on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th.

Baidu Trading Up 1.6%

Baidu stock opened at $132.05 on Friday. The firm has a 50-day moving average of $123.94 and a 200-day moving average of $129.46. Baidu has a one year low of $81.17 and a one year high of $165.30. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market cap of $44.93 billion, a price-to-earnings ratio of -1,100.32, a P/E/G ratio of 2.19 and a beta of 0.53.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its stake in Baidu by 38.0% in the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares during the last quarter. RPD Fund Management LLC lifted its stake in Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Schroder Investment Management Group bought a new position in Baidu in the 3rd quarter valued at about $165,334,000. Capital World Investors raised its holdings in Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock valued at $154,552,000 after acquiring an additional 205,040 shares during the period. Finally, ARK Investment Management LLC raised its holdings in Baidu by 127.8% in the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock valued at $151,288,000 after acquiring an additional 649,490 shares during the period.

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.