Baidu (BIDU) Stock Rating Reaffirmed by Benchmark

Baidu (NASDAQ:BIDU)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a research report issued to clients and investors on Friday, MarketBeat.com reports. They currently have a $245.00 target price on the information services provider’s stock, down from their prior target price of $260.00. Benchmark’s target price would suggest a potential upside of 46.56% from the stock’s previous close.

A number of other analysts have also recently weighed in on BIDU. Deutsche Bank set a $369.00 price target on shares of Baidu and gave the stock a “buy” rating in a research note on Monday, October 29th. Barclays set a $230.00 price target on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, November 1st. Credit Suisse Group set a $246.00 price target on shares of Baidu and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Nomura decreased their price target on shares of Baidu from $283.00 to $206.00 and set a “neutral” rating for the company in a research note on Thursday, November 1st. Finally, UBS Group set a $220.00 price target on shares of Baidu and gave the stock a “buy” rating in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $251.87.

Shares of Baidu stock opened at $167.17 on Friday. Baidu has a 12-month low of $153.78 and a 12-month high of $284.22. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $59.58 billion, a PE ratio of 21.43, a P/E/G ratio of 1.04 and a beta of 1.52.

A number of institutional investors have recently made changes to their positions in BIDU. Advisors Asset Management Inc. raised its position in Baidu by 79.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,367 shares of the information services provider’s stock worth $1,547,000 after buying an additional 2,818 shares during the last quarter. FMR LLC raised its position in Baidu by 3,949.8% during the 2nd quarter. FMR LLC now owns 621,403 shares of the information services provider’s stock worth $151,001,000 after buying an additional 606,059 shares during the last quarter. First Hawaiian Bank purchased a new position in Baidu during the 3rd quarter worth $212,000. Cornerstone Wealth Management LLC raised its position in Baidu by 4.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 420,957 shares of the information services provider’s stock worth $1,669,000 after buying an additional 19,320 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Baidu by 13.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,300,964 shares of the information services provider’s stock worth $754,863,000 after buying an additional 383,983 shares during the last quarter. Institutional investors own 60.67% of the company’s stock.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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