Benchmark Reiterates Buy Rating for Baidu (NASDAQ:BIDU)

Baidu (NASDAQ:BIDU)‘s stock had its “buy” rating reissued by analysts at Benchmark in a report released on Friday,Benzinga reports. They currently have a $130.00 price target on the information services provider’s stock. Benchmark’s price objective points to a potential upside of 53.33% from the company’s current price.

Several other research firms have also recently weighed in on BIDU. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Finally, Mizuho decreased their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.75.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded up $2.21 during trading on Friday, reaching $84.78. 1,460,073 shares of the stock were exchanged, compared to its average volume of 2,742,483. Baidu has a 12 month low of $77.19 and a 12 month high of $116.25. The firm has a market cap of $29.73 billion, a PE ratio of 10.38, a PEG ratio of 1.90 and a beta of 0.46. The stock has a 50-day moving average price of $84.92 and a 200-day moving average price of $88.84. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Institutional Trading of Baidu

Large investors have recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Baidu in the 3rd quarter valued at about $1,054,000. Fred Alger Management LLC acquired a new position in Baidu during the 3rd quarter valued at about $790,000. World Investment Advisors LLC acquired a new position in Baidu during the 3rd quarter valued at about $72,000. SG Americas Securities LLC boosted its stake in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after purchasing an additional 227,338 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Baidu by 8.9% during the 3rd 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.

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.