Baidu’s Buy Rating Reaffirmed by Benchmark

Benchmark has reaffirmed its buy rating on the shares of Baidu (NASDAQ:BIDU) in a report released on Friday. They have set a price target of $130.00 for the information services provider’s stock.

Several other research analysts have also recently published their analyses on BIDU. On November 22nd, Barclays downgraded Baidu from an "overweight" rating to "equal weight." Susquehanna also adjusted their stance, reducing Baidu from a "positive" rating to a "neutral" rating, along with lowering their price target from $105.00 to $85.00, as stated in a research note on November 25th. In contrast, StockNews.com upgraded Baidu from a "hold" rating to a "buy" rating in a report released on December 27th. Meanwhile, JPMorgan Chase & Co. downgraded Baidu, changing its rating from "overweight" to "neutral" on November 27th. Furthermore, China Renaissance cut Baidu from a "buy" rating to a "hold" rating, with a price target set at $86.00 in a report on November 25th. As it stands, ten investment analysts rated the stock with a hold rating, while seven analysts have given it a buy rating. Based on data from MarketBeat.com, the stock holds a consensus rating of "Hold" with an average target price of $113.75.

Baidu Stock Performance

On the previous Friday, BIDU opened at $86.40. The company has a 50-day simple moving average of $84.95, and its 200-day simple moving average stands at $88.79. Baidu's market capitalization is currently at $30.30 billion, with a P/E ratio of 10.58 and a P/E/G ratio of 1.90, accompanied by a beta of 0.46. Its debt-to-equity ratio is relatively low at 0.18, and both its current and quick ratios are equally at 2.19. Over the past year, Baidu's stock has experienced a low of $77.19 and a high of $116.25.

Institutional Investor Activity

Recently, hedge funds have been actively buying and selling shares of Baidu. Envestnet Asset Management Inc. increased its stake in the company by 11.1% during the second quarter, now holding 84,548 shares valued at $7,312,000 after acquiring an additional 8,422 shares in the last quarter. Pacer Advisors Inc. established a new position in Baidu during the same quarter worth approximately $1,796,000. EverSource Wealth Advisors LLC substantially grew its stake by 102.2%, now owning 1,098 shares valued at $97,000 after adding 555 more shares during the quarter. Bank of Montreal Can also expanded its holdings by 119.6%, currently owning 22,381 shares with a total value of $1,936,000, an increase facilitated by purchasing an additional 12,188 shares. Mackenzie Financial Corp. increased its stake by 90.9% during the second quarter, now holding 10,646 shares valued at $921,000 following the acquisition of 5,070 additional shares.

Company Overview

Baidu, Inc. specializes in providing internet search services in China. The firm operates through two key segments: Baidu Core and iQIYI. Their offerings include the Baidu App, which allows access to search, feed, and various services on mobile devices; Baidu Search for accessing search and related services; Baidu Feed, which provides users a personalized timeline based on their interests and demographics; Baidu Health, directing users to doctors and hospitals for their healthcare needs; and Haokan, a short video application.

Baidu, Rating, Analysts