Baidu (NASDAQ:BIDU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Baidu (NASDAQ:BIDU) from a sell rating to a hold rating in a report published on Sunday morning.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded shares of Baidu from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $188.00 in a research note on Monday, November 24th. Barclays lifted their price objective on shares of Baidu from $100.00 to $147.00 and gave the company an “equal weight” rating in a research note on Monday, January 26th. Benchmark restated a “buy” rating on shares of Baidu in a research report on Monday, January 12th. The Goldman Sachs Group lifted their price target on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, China Renaissance raised Baidu from a “hold” rating to a “buy” rating and increased their price objective for the stock from $134.00 to $180.00 in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.05.

Baidu Stock Up 0.5%

Baidu stock opened at $147.66 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average price is $138.91 and its two-hundred day moving average price is $122.23. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 49.06 and a beta of 0.32. Baidu has a 1-year low of $74.71 and a 1-year high of $165.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new position in Baidu during the 1st quarter valued at about $334,000. Blair William & Co. IL increased its stake in shares of Baidu by 3.6% during the second quarter. Blair William & Co. IL now owns 31,442 shares of the information services provider’s stock valued at $2,696,000 after purchasing an additional 1,083 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Baidu by 35.9% during the second quarter. Blue Trust Inc. now owns 4,293 shares of the information services provider’s stock valued at $368,000 after purchasing an additional 1,134 shares during the last quarter. Meritage Portfolio Management bought a new stake in shares of Baidu in the 2nd quarter worth approximately $13,081,000. Finally, Yousif Capital Management LLC grew its stake in shares of Baidu by 5.2% in the 2nd quarter. Yousif Capital Management LLC now owns 4,539 shares of the information services provider’s stock worth $389,000 after buying an additional 225 shares during the last quarter.

Baidu Company Profile

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.