Baidu (NASDAQ:BIDU – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.
A number of other brokerages have also recently commented on BIDU. Barclays boosted their target price on shares of Baidu from $139.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. Benchmark raised their price objective on shares of Baidu from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Jefferies Financial Group dropped their target price on shares of Baidu from $217.00 to $210.00 and set a “buy” rating on the stock in a research note on Tuesday, January 17th. Susquehanna Bancshares reduced their price target on shares of Baidu from $195.00 to $150.00 in a research report on Wednesday, December 14th. Finally, Citigroup increased their target price on Baidu from $176.00 to $191.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $184.18.
Baidu Stock Performance
Shares of BIDU stock opened at $144.54 on Thursday. Baidu has a 12 month low of $73.58 and a 12 month high of $160.88. The stock has a market cap of $49.94 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 0.78 and a beta of 0.67. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average price is $145.10 and its 200-day moving average price is $122.19.
Baidu declared that its board has authorized a stock buyback plan on Wednesday, February 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Hedge Funds Weigh In On Baidu
Several large investors have recently made changes to their positions in the business. Captrust Financial Advisors lifted its position in shares of Baidu by 4.0% in the second quarter. Captrust Financial Advisors now owns 1,941 shares of the information services provider’s stock valued at $289,000 after acquiring an additional 75 shares in the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Baidu by 2.6% in the first quarter. United Capital Financial Advisers LLC now owns 3,471 shares of the information services provider’s stock valued at $459,000 after acquiring an additional 88 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Baidu by 3.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,012 shares of the information services provider’s stock valued at $398,000 after acquiring an additional 90 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Baidu by 0.3% in the fourth quarter. Blair William & Co. IL now owns 29,687 shares of the information services provider’s stock valued at $3,396,000 after acquiring an additional 95 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Baidu by 27.0% in the third quarter. UMB Bank n.a. now owns 508 shares of the information services provider’s stock valued at $60,000 after acquiring an additional 108 shares in the last quarter. 23.06% of the stock is currently owned by hedge funds and other institutional investors.
Baidu Company Profile
Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.