The Goldman Sachs Group Issues Positive Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price objective hoisted by The Goldman Sachs Group from $154.00 to $155.00 in a research note released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the information services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Baidu from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. CLSA upgraded shares of Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. Zephirin Group initiated coverage on shares of Baidu in a research note on Monday, September 15th. They set a “sell” rating and a $92.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Arete raised shares of 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 assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.83.

Baidu Stock Down 1.4%

Baidu stock opened at $115.49 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. Baidu has a fifty-two week low of $74.71 and a fifty-two week high of $149.51. The firm has a market capitalization of $39.90 billion, a price-to-earnings ratio of 10.64 and a beta of 0.43. The stock’s fifty day moving average is $126.64 and its two-hundred day moving average is $102.08.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in Baidu by 2.0% in the 3rd quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock worth $577,000 after acquiring an additional 85 shares during the period. State of Wyoming lifted its holdings in shares of Baidu by 13.2% during the third quarter. State of Wyoming now owns 857 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 100 shares during the period. Parallel Advisors LLC boosted its stake in shares of Baidu by 11.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 108 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Baidu by 4.0% during the third quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock worth $391,000 after buying an additional 114 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 134 shares in 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.