Baidu, Inc. (NASDAQ:BIDU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $135.13.

A number of analysts have commented on the stock. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Susquehanna cut their target price on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Barclays dropped their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Macquarie downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Bank of America dropped their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Baidu during the 2nd quarter valued at about $601,000. SRN Advisors LLC boosted its position in shares of Baidu by 13.2% during the second quarter. SRN Advisors LLC now owns 17,764 shares of the information services provider’s stock valued at $1,536,000 after buying an additional 2,070 shares during the last quarter. Aristides Capital LLC bought a new stake in Baidu during the second quarter worth $1,081,000. Truist Financial Corp raised its position in Baidu by 3.3% in the 2nd quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock valued at $5,310,000 after buying an additional 1,956 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Baidu in the 2nd quarter valued at $606,000.

Baidu Trading Up 0.1 %

NASDAQ:BIDU opened at $84.07 on Friday. Baidu has a 52 week low of $79.68 and a 52 week high of $139.32. The firm’s fifty day moving average is $87.46 and its 200-day moving average is $96.10. The firm has a market cap of $29.48 billion, a P/E ratio of 11.25 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

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.