Baidu’s (BIDU) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Baidu (NASDAQ:BIDU) in a research report report published on Wednesday,Benzinga reports. They currently have a $130.00 price target on the information services provider’s stock.

Several other research firms have also recently weighed in on BIDU. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Nomura cut Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Citigroup decreased their target price on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu has an average rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Performance

NASDAQ BIDU opened at $91.19 on Wednesday. The company has a market cap of $31.97 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock has a 50-day moving average of $87.08 and a two-hundred day moving average of $88.83. Baidu has a 1-year low of $77.19 and a 1-year high of $116.25.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BIDU. Creative Planning increased its holdings in shares of Baidu by 2.8% in the third quarter. Creative Planning now owns 49,440 shares of the information services provider’s stock valued at $5,206,000 after purchasing an additional 1,362 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Baidu by 51.3% in the third quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider’s stock valued at $425,000 after purchasing an additional 1,369 shares during the period. Blue Trust Inc. increased its holdings in shares of Baidu by 26.9% in the third quarter. Blue Trust Inc. now owns 2,636 shares of the information services provider’s stock valued at $278,000 after purchasing an additional 558 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of Baidu by 24.4% in the third quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider’s stock valued at $582,000 after purchasing an additional 1,083 shares during the period.

Baidu Company Profile

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.