Baidu, Inc. (NASDAQ:BIDU) Receives $165.33 Average Price Target from Analysts

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $165.3333.

A number of equities analysts have recently commented on BIDU shares. Morgan Stanley boosted their price objective on Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lowered their price target on shares of Baidu from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Baidu in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a report on Monday, May 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd.

Institutional Trading of Baidu

Institutional investors have recently bought and sold shares of the business. RPD Fund Management LLC increased its stake in Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Morgan Stanley lifted its position in shares of Baidu by 38.0% during the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after buying an additional 745,588 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Baidu by 127.8% during the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after buying an additional 649,490 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Baidu by 106.7% in the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after buying an additional 582,832 shares in the last quarter. Finally, Steadfast Capital Management LP acquired a new position in shares of Baidu in the 3rd quarter valued at $59,966,000.

Baidu Price Performance

BIDU stock opened at $109.71 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $37.33 billion, a P/E ratio of -914.17, a P/E/G ratio of 2.37 and a beta of 0.58. The business’s 50-day moving average is $113.67 and its two-hundred day moving average is $124.38. Baidu has a 1 year low of $84.64 and a 1 year high of $165.30.

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.