Baidu (NASDAQ:BIDU) Upgraded by Wall Street Zen to Hold Rating

Baidu (NASDAQ:BIDU) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

BIDU has been the subject of several other research reports. Morgan Stanley set a $150.00 target price on Baidu in a research report on Tuesday, January 20th. Barclays increased their price objective on Baidu from $100.00 to $147.00 and gave the stock an “equal weight” rating in a report on Monday, January 26th. 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 report on Thursday, November 6th. Jefferies Financial Group upped their target price on shares of Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. Finally, Bank of America lifted their price target on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus price target of $157.05.

Baidu Price Performance

BIDU stock opened at $145.93 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. Baidu has a 1 year low of $74.71 and a 1 year high of $165.30. The firm has a 50-day moving average of $137.80 and a 200 day moving average of $121.24. The company has a market cap of $50.41 billion, a P/E ratio of 48.48 and a beta of 0.32.

Institutional Trading of Baidu

Institutional investors and hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group bought a new position in shares of Baidu in the third quarter worth approximately $165,334,000. RPD Fund Management LLC raised its holdings in Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after acquiring an additional 777,570 shares during the last quarter. Contrarius Group Holdings Ltd lifted its position in Baidu by 500.3% in the 3rd quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock valued at $117,506,000 after acquiring an additional 743,205 shares in the last quarter. Bank of America Corp DE lifted its position in Baidu by 106.7% in the 3rd quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock valued at $148,804,000 after acquiring an additional 582,832 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new stake in Baidu during the 3rd quarter valued at $59,966,000.

About Baidu

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.