Nomura Boosts Baidu (NASDAQ:BIDU) Price Target to $190.00

Baidu (NASDAQ:BIDU) had its target price lifted by Nomura from $186.00 to $190.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the information services provider’s stock. Nomura’s price target points to a potential upside of 40.34% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BIDU. Wall Street Zen downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Sunday. UBS Group restated a “buy” rating on shares of Baidu in a research report on Wednesday, February 4th. Zephirin Group upped their target price on shares of Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Benchmark reiterated a “buy” rating and issued a $215.00 price target on shares of Baidu in a research report on Tuesday. Finally, Barclays dropped their price target on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.58.

Baidu Stock Performance

Baidu stock traded down $2.29 during mid-day trading on Wednesday, reaching $135.39. 560,924 shares of the stock traded hands, compared to its average volume of 2,660,593. Baidu has a 12-month low of $81.17 and a 12-month high of $165.30. The business’s 50-day moving average is $122.98 and its 200-day moving average is $129.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $46.07 billion, a PE ratio of -1,126.86 and a beta of 0.53.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new position in Baidu during the third quarter valued at approximately $165,334,000. RPD Fund Management LLC boosted its position in shares of Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after purchasing an additional 777,570 shares during the period. Morgan Stanley increased its stake in shares of Baidu by 38.0% in the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after purchasing an additional 745,588 shares in the last quarter. Contrarius Group Holdings Ltd raised its position in shares of Baidu by 500.3% during the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after purchasing an additional 743,205 shares during the period. Finally, ARK Investment Management LLC lifted its stake in shares of Baidu by 127.8% during 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 buying an additional 649,490 shares in the last quarter.

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.