Baidu (NASDAQ:BIDU) Stock Rating Upgraded by CLSA

Baidu (NASDAQ:BIDU) was upgraded by stock analysts at CLSA to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Jefferies Financial Group upped their target price on Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Susquehanna lifted their price target on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Tuesday, September 16th. Finally, Benchmark dropped their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Baidu presently has a consensus rating of “Hold” and an average target price of $117.45.

Baidu Trading Up 5.9%

NASDAQ:BIDU opened at $132.92 on Monday. The stock’s 50-day moving average is $98.64 and its two-hundred day moving average is $91.57. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $45.92 billion, a PE ratio of 12.25 and a beta of 0.34. Baidu has a fifty-two week low of $74.71 and a fifty-two week high of $141.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in shares of Baidu by 28.3% in the first quarter. Royal Bank of Canada now owns 160,713 shares of the information services provider’s stock valued at $14,791,000 after acquiring an additional 35,479 shares during the last quarter. Integrity Alliance LLC. bought a new position in Baidu in the 1st quarter valued at $247,000. FNY Investment Advisers LLC acquired a new position in Baidu in the first quarter worth $922,000. Janney Montgomery Scott LLC bought a new stake in shares of Baidu during the first quarter worth $274,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Baidu by 39,363.0% in the first quarter. NewEdge Advisors LLC now owns 21,310 shares of the information services provider’s stock valued at $1,961,000 after buying an additional 21,256 shares during the last quarter.

Baidu Company Profile

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.