Baidu, Inc. (NASDAQ:BIDU) Receives $146.11 Average PT from Brokerages

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $146.1111.

Several research firms have commented on BIDU. Daiwa Capital Markets set a $160.00 price objective on shares of Baidu and gave the company a “buy” rating in a research note on Tuesday, October 14th. Nomura set a $140.00 price target on Baidu and gave the stock a “buy” rating in a report on Thursday, November 20th. National Bankshares raised Baidu to an “outperform” rating in a research report on Monday, November 24th. UBS Group set a $188.00 target price on Baidu in a research report on Monday, November 24th. Finally, Wall Street Zen downgraded shares of Baidu from a “hold” rating to a “sell” rating in a report on Saturday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in 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 purchasing an additional 35,479 shares during the last quarter. Capital Advisors Inc. OK bought a new stake in shares of Baidu in the second quarter valued at $1,715,000. Fluent Financial LLC lifted its position in shares of Baidu by 16.2% during the 2nd quarter. Fluent Financial LLC now owns 23,606 shares of the information services provider’s stock valued at $2,024,000 after buying an additional 3,286 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Baidu by 129.4% during the 2nd quarter. ARK Investment Management LLC now owns 294,447 shares of the information services provider’s stock valued at $25,252,000 after buying an additional 166,088 shares during the last quarter. Finally, Greenwood Capital Associates LLC grew its stake in shares of Baidu by 36.9% during the 2nd quarter. Greenwood Capital Associates LLC now owns 38,976 shares of the information services provider’s stock worth $3,343,000 after acquiring an additional 10,501 shares during the period.

Baidu Stock Performance

NASDAQ BIDU opened at $124.80 on Thursday. The company has a fifty day moving average price of $121.82 and a 200-day moving average price of $108.52. The firm has a market cap of $43.11 billion, a price-to-earnings ratio of 41.46 and a beta of 0.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. Baidu has a 1 year low of $74.71 and a 1 year high of $149.51.

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.