Baidu (NASDAQ:BIDU) Price Target Raised to $120.00

Baidu (NASDAQ:BIDUFree Report) had its target price lifted by Susquehanna from $110.00 to $120.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded Baidu from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Baidu in a research report on Monday, December 29th. Morgan Stanley reduced their price objective on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Nomura lifted their target price on shares of Baidu from $178.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Wall Street Zen upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $157.89.

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Baidu Stock Up 0.9%

BIDU stock opened at $119.05 on Thursday. Baidu has a twelve month low of $74.71 and a twelve month 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 has a market cap of $41.13 billion, a PE ratio of 74.87 and a beta of 0.32. The business has a 50 day moving average of $141.64 and a 200 day moving average of $127.39.

Institutional Investors Weigh In On Baidu

Large investors have recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in shares of Baidu during the 1st quarter valued at about $334,000. Envestnet Asset Management Inc. raised its holdings in shares of Baidu by 10.1% during the second quarter. Envestnet Asset Management Inc. now owns 10,995 shares of the information services provider’s stock valued at $943,000 after purchasing an additional 1,007 shares during the last quarter. Assetmark Inc. lifted its position in Baidu by 127.6% during the second quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock valued at $64,000 after purchasing an additional 416 shares during the period. Savant Capital LLC purchased a new stake in Baidu in the second quarter worth approximately $213,000. Finally, Penserra Capital Management LLC boosted its holdings in Baidu by 20.7% in the second quarter. Penserra Capital Management LLC now owns 220,893 shares of the information services provider’s stock worth $18,943,000 after purchasing an additional 37,927 shares during the last quarter.

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About Baidu

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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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