Brokerages Set Baidu (BIDU) Price Target at $258.94

Baidu (NASDAQ:BIDU) has been assigned a consensus recommendation of “Buy” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $258.94.

BIDU has been the subject of several analyst reports. Morgan Stanley upgraded Baidu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $225.60 to $280.00 in a report on Wednesday, February 14th. Wells Fargo reissued an “outperform” rating and issued a $200.00 target price (down from $275.00) on shares of Baidu in a research report on Monday, January 8th. BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Zacks Investment Research downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Finally, Jefferies Group downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd.

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Shares of BIDU traded down $5.75 during midday trading on Friday, hitting $219.82. 1,741,668 shares of the company’s stock traded hands, compared to its average volume of 3,066,710. Baidu has a 1 year low of $171.17 and a 1 year high of $274.97. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30. The firm has a market cap of $76,224.79, a PE ratio of 27.27, a P/E/G ratio of 1.36 and a beta of 1.88.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comgest Global Investors S.A.S. grew its position in Baidu by 5.7% during the 4th quarter. Comgest Global Investors S.A.S. now owns 3,079,180 shares of the information services provider’s stock worth $721,174,000 after purchasing an additional 166,800 shares during the period. UBS Asset Management Americas Inc. grew its position in Baidu by 4.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 3,038,645 shares of the information services provider’s stock worth $711,681,000 after purchasing an additional 130,474 shares during the period. OppenheimerFunds Inc. grew its position in Baidu by 8.8% during the 4th quarter. OppenheimerFunds Inc. now owns 2,529,237 shares of the information services provider’s stock worth $592,372,000 after purchasing an additional 204,004 shares during the period. Fisher Asset Management LLC grew its position in Baidu by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 1,770,476 shares of the information services provider’s stock worth $414,663,000 after purchasing an additional 48,476 shares during the period. Finally, Investec Asset Management LTD grew its position in Baidu by 8.6% during the 4th quarter. Investec Asset Management LTD now owns 1,305,736 shares of the information services provider’s stock worth $305,816,000 after purchasing an additional 103,588 shares during the period. 63.16% of the stock is currently owned by institutional investors.

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Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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