Analysts Set Baidu, Inc. (NASDAQ:BIDU) Target Price at $157.89

Shares of Baidu, Inc. (NASDAQ:BIDU) have been given an average rating of “Moderate Buy” by the twenty-two analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $157.8889.

Several research analysts have issued reports on the stock. Benchmark restated a “buy” rating on shares of Baidu in a research report on Friday, February 20th. Susquehanna increased their price objective on Baidu from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Baidu in a research note on Monday, December 29th. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and lifted their target price for the stock from $134.00 to $180.00 in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $188.00 in a research report on Monday, November 24th.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA boosted its holdings in shares of Baidu by 1.4% in the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock worth $1,039,132,000 after buying an additional 170,414 shares during the period. Morgan Stanley raised its holdings in shares of 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 acquiring an additional 745,588 shares during the period. RPD Fund Management LLC lifted its position in shares of Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after acquiring an additional 777,570 shares in the last quarter. Schroder Investment Management Group purchased a new stake in shares of Baidu in the 3rd quarter valued at approximately $165,334,000. Finally, Capital World Investors boosted its stake in Baidu by 21.0% in the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after purchasing an additional 205,040 shares during the period.

Baidu Stock Down 1.8%

NASDAQ BIDU opened at $121.80 on Tuesday. Baidu has a 12 month low of $74.71 and a 12 month high of $165.30. The company has a market capitalization of $42.08 billion, a P/E ratio of 76.60 and a beta of 0.33. The company’s 50 day simple moving average is $140.07 and its 200 day simple moving average is $129.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.91.

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.