Baidu (NASDAQ:BIDU) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Baidu (NASDAQ:BIDU) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Bank of America lowered their price target on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Finally, China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Monday. Ten 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 a consensus rating of “Hold” and an average target price of $114.92.

Baidu Trading Up 1.6 %

NASDAQ:BIDU opened at $84.82 on Tuesday. The company has a 50-day moving average price of $93.59 and a 200-day moving average price of $91.94. Baidu has a 12 month low of $78.95 and a 12 month high of $123.74. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 1.06 and a beta of 0.51.

Institutional Trading of Baidu

A number of large investors have recently made changes to their positions in BIDU. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Baidu during the third quarter valued at approximately $1,054,000. SRN Advisors LLC raised its holdings in shares of Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Baidu by 8.9% during the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares during the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Baidu by 82.9% during the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after purchasing an additional 9,292 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Baidu during the second quarter valued at approximately $606,000.

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.