Baidu (NASDAQ:BIDU) Upgraded at China Renaissance

Baidu (NASDAQ:BIDU) was upgraded by investment analysts at China Renaissance from a “hold” rating to a “buy” rating in a report issued on Tuesday,MarketScreener reports. The brokerage presently has a $180.00 price objective on the information services provider’s stock, up from their prior price objective of $134.00. China Renaissance’s price objective points to a potential upside of 23.12% from the stock’s current price.

BIDU has been the subject of a number of other reports. Bank of America upped their price objective on shares of Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. UBS Group set a $215.00 price target on Baidu in a research note on Monday, January 12th. The Goldman Sachs Group raised their price objective on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Zacks Research raised Baidu from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Finally, Morgan Stanley set a $150.00 price target on Baidu in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.05.

Baidu Price Performance

Shares of BIDU stock traded down $2.37 on Tuesday, hitting $146.20. 502,641 shares of the company’s stock were exchanged, compared to its average volume of 3,700,322. The stock has a market cap of $50.50 billion, a P/E ratio of 48.42 and a beta of 0.30. 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 12 month low of $74.71 and a 12 month high of $165.30. The company has a 50 day moving average of $135.80 and a 200 day moving average of $119.99.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in BIDU. UMB Bank n.a. raised its holdings in Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the last quarter. Binnacle Investments Inc bought a new stake in shares of Baidu in the 2nd quarter valued at $29,000. Ameritas Advisory Services LLC increased its position in shares of Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after buying an additional 372 shares during the period. Winthrop Capital Management LLC acquired a new stake in shares of Baidu during the second quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. bought a new position in Baidu during the second quarter worth $43,000.

Baidu Company Profile

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.