Mizuho Issues Positive Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price objective boosted by stock analysts at Mizuho from $95.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Mizuho’s price objective indicates a potential upside of 16.46% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Citigroup decreased their price target on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research note on Tuesday. Benchmark restated a “buy” rating and set a $130.00 target price on shares of Baidu in a report on Friday, January 24th. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Baidu currently has an average rating of “Hold” and a consensus target price of $111.25.

Baidu Price Performance

Baidu stock opened at $90.16 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $31.61 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.46. The company’s 50 day simple moving average is $87.10 and its 200-day simple moving average is $88.79. Baidu has a 1 year low of $77.19 and a 1 year high of $116.25.

Institutional Investors Weigh In On Baidu

A number of large investors have recently modified their holdings of BIDU. Rialto Wealth Management LLC acquired a new position in shares of Baidu during the fourth quarter worth $42,000. Sycomore Asset Management purchased a new stake in Baidu during the 4th quarter worth about $51,000. GeoWealth Management LLC boosted its position in shares of Baidu by 88.5% during the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after acquiring an additional 308 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Baidu during the 3rd quarter worth about $82,000.

About Baidu

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.