Baidu (NASDAQ:BIDU) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a report released on Tuesday morning.

Several other analysts have also recently issued reports on BIDU. Benchmark cut 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. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, September 24th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 1.0 %

Shares of BIDU stock opened at $83.51 on Tuesday. 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 stock has a fifty day simple moving average of $93.63 and a two-hundred day simple moving average of $92.04. The firm has a market capitalization of $29.28 billion, a PE ratio of 10.22, a PEG ratio of 1.03 and a beta of 0.51. Baidu has a 52-week low of $78.95 and a 52-week high of $126.23.

Hedge Funds Weigh In On Baidu

Large investors have recently made changes to their positions in the business. iA Global Asset Management Inc. acquired a new position in Baidu during the 2nd quarter valued at about $52,000. Denver PWM LLC acquired a new position in shares of Baidu during the second quarter valued at about $67,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Baidu in the 3rd quarter worth approximately $72,000. Finally, Grove Bank & Trust grew its position in Baidu by 21.6% during 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.

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.