Baidu, Inc. (NASDAQ:BIDU) Receives $113.75 Average Price Target from Brokerages

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

Several equities research analysts have recently weighed in on the company. Benchmark decreased their target price on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $85.00 in a report on Monday, November 25th. China Renaissance lowered shares of 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 decreased their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th.

Institutional Trading of Baidu

Several hedge funds have recently made changes to their positions in BIDU. Allspring Global Investments Holdings LLC increased its position in Baidu by 630.9% in the third 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. World Investment Advisors LLC acquired a new stake in shares of Baidu in the 3rd quarter worth about $72,000. Grove Bank & Trust grew its position 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 purchasing an additional 130 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of Baidu in the third quarter valued at approximately $82,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Baidu by 102.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock valued at $97,000 after buying an additional 555 shares during the last quarter.

Baidu Stock Up 2.4 %

Shares of Baidu stock opened at $81.50 on Thursday. Baidu has a twelve month low of $77.19 and a twelve month high of $116.25. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. 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 company has a fifty day moving average price of $85.67 and a 200 day moving average price of $89.14.

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.