Analysts Set Baidu, Inc. (NASDAQ:BIDU) Price Target at $113.75

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $113.75.

A number of equities research analysts have issued reports on the company. Citigroup cut their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Monday, November 25th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, September 24th.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently modified their holdings of BIDU. iA Global Asset Management Inc. bought a new position in Baidu during the second quarter valued at about $52,000. Denver PWM LLC acquired a new stake in Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC boosted its position in shares of Baidu by 630.9% during the 3rd 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 in the last quarter. World Investment Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter worth approximately $72,000. Finally, Grove Bank & Trust raised its holdings in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares in the last quarter.

Baidu Trading Up 0.3 %

Shares of NASDAQ BIDU opened at $85.80 on Friday. Baidu has a 12-month low of $78.95 and a 12-month high of $120.25. The company has a market cap of $30.09 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. 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’s 50 day simple moving average is $88.62 and its 200 day simple moving average is $90.11.

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.