StockNews.com Upgrades Baidu (NASDAQ:BIDU) to “Buy”

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

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group cut their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday, November 25th. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Finally, Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.75.

Baidu Trading Up 0.3 %

NASDAQ:BIDU opened at $85.05 on Tuesday. The stock has a fifty day moving average price of $93.57 and a two-hundred day moving average price of $91.75. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 1 year low of $78.95 and a 1 year high of $120.25.

Institutional Trading of Baidu

Large investors have recently made changes to their positions in the stock. iA Global Asset Management Inc. purchased a new stake in Baidu in the 2nd quarter valued at about $52,000. Denver PWM LLC purchased a new stake in Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC grew its holdings in 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 buying an additional 593 shares during the period. World Investment Advisors LLC purchased a new stake in Baidu in the 3rd quarter valued at about $72,000. Finally, Grove Bank & Trust grew its holdings in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during the period.

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.