Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Price Target at $154.89

Shares of Baidu, Inc. (NASDAQ:BIDU) have been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $154.8889.

Several research analysts have recently issued reports on BIDU shares. Citigroup reiterated a “buy” rating on shares of Baidu in a report on Tuesday, June 23rd. Nomura lifted their price target on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. dropped their price objective on Baidu from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Benchmark cut their price objective on Baidu from $215.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Baidu in a report on Thursday, August 13th.

Baidu Stock Up 1.3%

Baidu stock opened at $95.58 on Tuesday. Baidu has a 52 week low of $89.60 and a 52 week high of $165.30. The stock has a market cap of $32.52 billion, a price-to-earnings ratio of -45.30, a PEG ratio of 4.16 and a beta of 0.57. The company’s 50-day moving average price is $105.84 and its two-hundred day moving average price is $117.37. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its stake in Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after purchasing an additional 745,588 shares during the last quarter. RPD Fund Management LLC boosted its holdings in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after buying an additional 777,570 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Baidu by 307.9% in the second quarter. Alyeska Investment Group L.P. now owns 1,209,089 shares of the information services provider’s stock worth $138,187,000 after buying an additional 912,638 shares during the last quarter. Capital World Investors grew its position in Baidu by 21.0% in the fourth quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after buying an additional 205,040 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Baidu by 127.8% in the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock valued at $151,288,000 after buying an additional 649,490 shares in the last quarter.

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.