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

Shares of Baidu, Inc. (NASDAQ:BIDU) have been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Fifteen investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $169.50.

Several research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Barclays reduced their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. HSBC lowered their price objective on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Finally, Benchmark cut their target price on Baidu from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Monday.

Hedge Funds Weigh In On Baidu

Institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in shares of Baidu by 90,390.0% during the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after buying an additional 900,284 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Baidu by 139.3% during the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after purchasing an additional 312,467 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its position in Baidu by 25.7% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock valued at $175,187,000 after purchasing an additional 270,187 shares during the last quarter. Federated Hermes Inc. boosted its stake in Baidu by 15.3% in the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after purchasing an additional 238,374 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Baidu by 337.5% during the first quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after purchasing an additional 193,180 shares during the last quarter.

Baidu Trading Down 0.8 %

Shares of Baidu stock opened at $109.60 on Friday. The company has a market cap of $38.43 billion, a price-to-earnings ratio of 14.20 and a beta of 0.68. Baidu has a 1 year low of $94.25 and a 1 year high of $156.98. The company’s fifty day simple moving average is $103.03 and its 200-day simple moving average is $108.09. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23.

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.