Baidu (NASDAQ:BIDU) Earns “Buy” Rating from Benchmark

Baidu (NASDAQ:BIDU)‘s stock had its “buy” rating reaffirmed by Benchmark in a research report issued on Wednesday,Benzinga reports. They currently have a $130.00 price target on the information services provider’s stock. Benchmark’s price target would indicate a potential upside of 44.19% from the company’s previous close.

Several other brokerages also recently issued reports on BIDU. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research note on Tuesday. Nomura cut shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Monday, November 25th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $111.25.

Baidu Trading Down 7.5 %

Shares of NASDAQ:BIDU opened at $90.16 on Wednesday. Baidu has a fifty-two week low of $77.19 and a fifty-two week high of $116.25. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market cap of $31.61 billion, a PE ratio of 11.04, a P/E/G ratio of 2.23 and a beta of 0.46. The company’s 50-day moving average price is $87.12 and its 200 day moving average price is $88.83.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after acquiring an additional 1,061,893 shares in the last quarter. RPD Fund Management LLC purchased a new position in Baidu during the 4th quarter worth approximately $72,245,000. FIL Ltd raised its stake in Baidu by 367.1% during the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock valued at $50,579,000 after purchasing an additional 471,497 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in shares of Baidu in the third quarter worth $42,748,000. Finally, Cantor Fitzgerald L. P. grew its holdings in shares of Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock valued at $33,722,000 after buying an additional 375,145 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.