Baidu (NASDAQ:BIDU) Price Target Raised to $390.00

Baidu (NASDAQ:BIDU) had its price objective hoisted by investment analysts at KeyCorp from $290.00 to $390.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price target suggests a potential upside of 16.14% from the company’s previous close.

BIDU has been the subject of several other research reports. Citigroup upped their price target on shares of Baidu from $292.00 to $324.00 in a research report on Friday. UBS Group upped their target price on Baidu from $315.00 to $400.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group lifted their price target on Baidu from $144.00 to $162.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Loop Capital upped their price objective on Baidu from $150.00 to $210.00 in a research note on Wednesday, December 23rd. Finally, Zacks Investment Research raised Baidu from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research report on Friday, November 20th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Baidu has an average rating of “Buy” and a consensus price target of $236.32.

Shares of Baidu stock opened at $335.79 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.65 and a quick ratio of 2.65. Baidu has a 1 year low of $82.00 and a 1 year high of $354.82. The firm’s 50-day moving average is $261.95 and its two-hundred day moving average is $170.91. The stock has a market cap of $114.53 billion, a price-to-earnings ratio of 33.78 and a beta of 1.16.

Baidu announced that its board has approved a share buyback plan on Tuesday, December 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Baidu by 149.7% during the 1st quarter. FMR LLC now owns 82,956 shares of the information services provider’s stock worth $13,674,000 after buying an additional 49,735 shares during the period. NEXT Financial Group Inc purchased a new stake in shares of Baidu during the third quarter worth about $122,000. MAI Capital Management raised its position in shares of Baidu by 1.2% during the 3rd quarter. MAI Capital Management now owns 14,913 shares of the information services provider’s stock worth $1,888,000 after purchasing an additional 175 shares during the last quarter. JustInvest LLC acquired a new stake in Baidu in the 3rd quarter worth about $232,000. Finally, M&G Investment Management Ltd. increased its stake in Baidu by 0.9% during the 3rd quarter. M&G Investment Management Ltd. now owns 592,690 shares of the information services provider’s stock worth $75,272,000 after buying an additional 5,099 shares in the last quarter. 49.38% of the stock is owned by institutional investors.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

Further Reading: How To Calculate Debt-to-Equity Ratio

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