Baidu, Inc. (NASDAQ:BIDU) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned an average rating of “Buy” from the fifteen research firms that are presently covering the company, MarketBeat reports. Fifteen investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $171.64.

Several equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Barclays reduced their price target on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, HSBC lowered their price target on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th.

Baidu Stock Performance

Shares of BIDU opened at $113.41 on Friday. The stock has a market capitalization of $39.77 billion, a P/E ratio of 14.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. Baidu has a 1 year low of $94.25 and a 1 year high of $156.98. The company’s fifty day moving average is $102.97 and its two-hundred day moving average is $108.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Black Creek Investment Management Inc. increased its position in Baidu by 3.1% during the third quarter. Black Creek Investment Management Inc. now owns 2,089,303 shares of the information services provider’s stock worth $280,698,000 after purchasing an additional 63,239 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Baidu by 15.3% in the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock valued at $241,076,000 after acquiring an additional 238,374 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in Baidu by 8.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after acquiring an additional 116,047 shares during the period. Invesco Ltd. increased its stake in Baidu by 6.4% during the third quarter. Invesco Ltd. now owns 1,301,583 shares of the information services provider’s stock worth $174,868,000 after acquiring an additional 78,331 shares during the last quarter. Finally, RWC Asset Advisors US LLC increased its stake in Baidu by 5.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after acquiring an additional 58,686 shares during the last quarter.

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.