Baidu, Inc. (NASDAQ:BIDU) Given Average Recommendation of “Hold” by Brokerages

Baidu, Inc. (NASDAQ:BIDU) has received an average rating of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $113.75.

A number of research firms have commented on BIDU. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Monday, November 25th. Citigroup dropped their target price on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Finally, JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th.

Baidu Price Performance

Baidu stock opened at $89.32 on Monday. 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 firm has a market cap of $31.32 billion, a P/E ratio of 10.93, a P/E/G ratio of 2.08 and a beta of 0.46. The business’s fifty day moving average is $86.10 and its two-hundred day moving average is $88.56. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently modified their holdings of the business. Primecap Management Co. CA raised its position in shares of Baidu by 1.5% during the third 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 raised its position in shares of Baidu by 0.7% during the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after purchasing an additional 18,334 shares during the period. CoreView Capital Management Ltd raised its position in shares of Baidu by 15.6% during the third quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after purchasing an additional 166,618 shares during the period. International Assets Investment Management LLC raised its position in shares of Baidu by 12,065.6% during 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 purchasing an additional 1,061,893 shares during the period. Finally, North of South Capital LLP raised its position in shares of Baidu by 18.9% during the fourth quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock worth $51,838,000 after purchasing an additional 97,549 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.