Baidu (NASDAQ:BIDU) Earns “Outperform” Rating from Daiwa Capital Markets

Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reissued by analysts at Daiwa Capital Markets in a report issued on Tuesday.

Several other research analysts have also weighed in on the company. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday, November 25th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Barclays raised their target price on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Finally, StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $112.08.

Baidu Trading Down 7.8 %

Shares of BIDU stock traded down $7.63 during mid-day trading on Tuesday, hitting $89.85. The company’s stock had a trading volume of 13,278,019 shares, compared to its average volume of 4,933,717. The company’s fifty day simple moving average is $87.10 and its 200-day simple moving average is $88.79. Baidu has a 52 week low of $77.19 and a 52 week high of $116.25. 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 cap of $31.51 billion, a PE ratio of 11.03, a P/E/G ratio of 2.03 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

Hedge funds have recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of Baidu during the 4th quarter worth approximately $42,000. Sycomore Asset Management bought a new stake in shares of Baidu in the 4th quarter worth approximately $51,000. GeoWealth Management LLC raised its holdings in shares of Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after purchasing an additional 308 shares during the period. Allspring Global Investments Holdings LLC raised 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 worth $72,000 after purchasing an additional 593 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Baidu in the 3rd quarter worth approximately $72,000.

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.