Baidu, Inc. (NASDAQ:BIDU) Receives $162.58 Consensus Price Target from Brokerages

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $162.5789.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Susquehanna increased their price objective 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. Barclays dropped their price objective on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a research note on Thursday, March 5th. Finally, BNP Paribas Exane assumed coverage on shares of Baidu in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price objective for the company.

Baidu Trading Down 0.0%

Shares of BIDU stock opened at $111.74 on Thursday. Baidu has a 52-week low of $83.30 and a 52-week high of $165.30. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of -931.09, a P/E/G ratio of 1.91 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a fifty day moving average of $126.90 and a 200-day moving average of $129.71.

Institutional Investors Weigh In On Baidu

Several large investors have recently made changes to their positions in BIDU. Empowered Funds LLC bought a new stake in shares of Baidu in the 1st quarter worth about $334,000. EverSource Wealth Advisors LLC grew its holdings in shares of Baidu by 71.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $101,000 after purchasing an additional 493 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Baidu by 53.3% in the 2nd quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock worth $829,000 after purchasing an additional 3,362 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Baidu by 2.6% in the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock worth $4,291,000 after purchasing an additional 1,259 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in shares of Baidu in the 2nd quarter worth about $254,000.

About Baidu

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.