Baidu (NASDAQ:BIDU) Upgraded to “Buy” at Dbs Bank

Dbs Bank upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat Ratings reports. Dbs Bank currently has $177.00 target price on the information services provider’s stock, up from their prior target price of $85.00.

Other research analysts have also issued reports about the stock. Zephirin Group started coverage on shares of Baidu in a research note on Monday, September 15th. They issued a “sell” rating and a $92.00 price objective on the stock. Susquehanna increased their target price on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Barclays dropped their price target on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Friday, July 18th. Nomura raised their price target on shares of Baidu from $91.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Citigroup raised their price target on shares of Baidu from $138.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $122.42.

Baidu Stock Up 1.9%

Baidu stock opened at $135.40 on Thursday. Baidu has a 1-year low of $74.71 and a 1-year high of $141.60. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 12.48 and a beta of 0.34. The firm’s fifty day moving average price is $99.60 and its two-hundred day moving average price is $91.86. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

A number of large investors have recently added to or reduced their stakes in the stock. Marex Group plc purchased a new stake in Baidu during the second quarter worth about $7,200,000. Nomura Holdings Inc. increased its holdings in Baidu by 371.4% during the second quarter. Nomura Holdings Inc. now owns 87,448 shares of the information services provider’s stock worth $7,500,000 after buying an additional 119,671 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Baidu by 11.7% during the second quarter. Nikko Asset Management Americas Inc. now owns 167,582 shares of the information services provider’s stock worth $14,370,000 after buying an additional 17,575 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Baidu by 4,715.6% during the second quarter. Tower Research Capital LLC TRC now owns 14,543 shares of the information services provider’s stock worth $1,247,000 after buying an additional 14,241 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in Baidu during the second quarter worth about $29,000.

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.