Baidu (NASDAQ:BIDU) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Other equities analysts have also recently issued research reports about the company. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Bank of America cut their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Susquehanna cut their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Finally, Barclays decreased their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Price Performance

Shares of Baidu stock opened at $94.39 on Thursday. Baidu has a 1-year low of $79.68 and a 1-year high of $126.23. The firm has a fifty day simple moving average of $91.83 and a 200-day simple moving average of $94.90. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $33.10 billion, a price-to-earnings ratio of 12.64 and a beta of 0.49.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently bought and sold shares of BIDU. Primecap Management Co. CA raised its holdings in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after buying an additional 1,753,577 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Baidu by 3.7% in the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after acquiring an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after purchasing an additional 14,878 shares during the period. ARGA Investment Management LP increased its position in Baidu by 6.5% in the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock worth $107,689,000 after purchasing an additional 62,830 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares during the last quarter.

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.