Baidu (NASDAQ:BIDU) Price Target Raised to $178.00

Baidu (NASDAQ:BIDU) had its target price increased by Nomura from $140.00 to $178.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the information services provider’s stock. Nomura’s price target indicates a potential upside of 18.92% from the stock’s current price.

Several other equities analysts have also issued reports on BIDU. JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and upped their price target for the company from $110.00 to $188.00 in a research note on Monday, November 24th. Zacks Research upgraded Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a report on Sunday. National Bankshares raised Baidu to an “outperform” rating in a research report on Monday, November 24th. Finally, Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $91.00 to $176.00 in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.56.

Baidu Price Performance

NASDAQ BIDU opened at $149.68 on Monday. Baidu has a fifty-two week low of $74.71 and a fifty-two week high of $151.08. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $51.71 billion, a P/E ratio of 49.73 and a beta of 0.30. The stock’s 50-day moving average is $123.62 and its two-hundred day moving average is $110.81.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA lifted its position in shares of Baidu by 1.4% during the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock worth $1,039,132,000 after purchasing an additional 170,414 shares during the last quarter. RPD Fund Management LLC grew its holdings in shares of 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 in the last quarter. Schroder Investment Management Group purchased a new position in shares of Baidu in the 3rd quarter valued at about $165,334,000. Bank of America Corp DE raised its position in shares of Baidu by 106.7% during the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after acquiring an additional 582,832 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Baidu by 0.5% in the 3rd quarter. Capital World Investors now owns 977,817 shares of the information services provider’s stock valued at $128,847,000 after purchasing an additional 5,343 shares during the period.

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.