Nomura Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDUGet Free Report) had its price target decreased by investment analysts at Nomura from $196.00 to $186.00 in a report issued on Friday,MarketScreener reports. The firm currently has a “buy” rating on the information services provider’s stock. Nomura’s price objective would indicate a potential upside of 56.24% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $188.00 in a research report on Monday, November 24th. Benchmark reissued a “buy” rating on shares of Baidu in a research note on Friday, February 20th. UBS Group restated a “buy” rating on shares of Baidu in a research report on Wednesday, February 4th. Finally, China Renaissance raised Baidu from a “hold” rating to a “buy” rating and raised their price objective for the company from $134.00 to $180.00 in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $157.89.

View Our Latest Stock Report on BIDU

Baidu Price Performance

Baidu stock opened at $119.05 on Friday. Baidu has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a quick ratio of 1.91, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $141.64 and its 200 day moving average is $127.39. The company has a market cap of $41.13 billion, a price-to-earnings ratio of 74.87 and a beta of 0.32.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Voya Investment Management LLC purchased a new position in Baidu during the 3rd quarter valued at $2,027,000. Monaco Asset Management SAM increased its stake in Baidu by 14.7% in the second quarter. Monaco Asset Management SAM now owns 282,500 shares of the information services provider’s stock worth $24,227,000 after purchasing an additional 36,129 shares during the period. Greenwood Capital Associates LLC lifted its position in shares of Baidu by 36.7% during the third quarter. Greenwood Capital Associates LLC now owns 53,291 shares of the information services provider’s stock worth $7,022,000 after purchasing an additional 14,315 shares during the last quarter. Marathon Trading Investment Management LLC boosted its stake in shares of Baidu by 64.1% during the second quarter. Marathon Trading Investment Management LLC now owns 6,400 shares of the information services provider’s stock valued at $549,000 after purchasing an additional 2,500 shares during the period. Finally, Marex Group plc purchased a new stake in shares of Baidu during the second quarter valued at $7,200,000.

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Baidu Company Profile

(Get Free Report)

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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