Benchmark Issues Positive Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its target price raised by Benchmark from $115.00 to $158.00 in a report published on Wednesday morning,Benzinga reports. Benchmark currently has a buy rating on the information services provider’s stock.

Several other research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Baidu from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, November 6th. Arete raised Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective on the stock in a research report on Tuesday, September 16th. Wall Street Zen downgraded Baidu from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $91.00 to $176.00 in a report on Friday, October 10th. Finally, Arete Research upgraded Baidu from a “sell” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.83.

Baidu Price Performance

BIDU opened at $115.49 on Wednesday. The firm has a market cap of $39.90 billion, a PE ratio of 10.64 and a beta of 0.43. The stock has a 50-day moving average price of $126.64 and a 200-day moving average price of $102.08. Baidu has a 1 year low of $74.71 and a 1 year high of $149.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently made changes to their positions in the business. Binnacle Investments Inc bought a new stake in shares of Baidu during the 2nd quarter valued at $29,000. Assetmark Inc. lifted its position in Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 192 shares in the last quarter. Winthrop Capital Management LLC bought a new stake in Baidu during the second quarter valued at about $39,000. Mizuho Securities Co. Ltd. purchased a new stake in Baidu in the second quarter worth about $43,000. Finally, UMB Bank n.a. increased its position in Baidu by 65.0% in the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after buying an additional 134 shares in the last quarter.

About Baidu

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.