Arete Upgrades Baidu (NASDAQ:BIDU) to Buy

Key Points

• Arete has upgraded Baidu from a "sell" rating to a "buy" rating, with a target price of $143.00, indicating a potential upside of 24.54% from its current stock price.
• As of now, six analysts rate Baidu as a buy, while eleven have issued a hold rating, resulting in a consensus rating of "hold" with an average price target of $108.33.
• Baidu's market capitalization stands at $39.66 billion, with shares recently opening at $114.82, noting a 12-month high of $116.91.

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by Arete from a "sell" rating to a "buy" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a $143.00 target price on the information services provider's stock. Arete's price objective suggests a potential upside of 24.54% from the company's current price.

Several other equities research analysts have also recently weighed in on the stock. Benchmark lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, August 21st. Barclays lowered their price target on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, July 18th. Wall Street Zen cut shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group lowered their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $108.33.

Baidu Trading Up 0.0%

Shares of BIDU stock opened at $114.82 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $39.66 billion, a P/E ratio of 10.58 and a beta of 0.34. Baidu has a 12-month low of $74.71 and a 12-month high of $116.91. The firm has a 50-day moving average price of $92.49 and a 200 day moving average price of $89.52.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently modified their holdings of BIDU. Ameriprise Financial Inc. grew its stake in shares of Baidu by 7.5% in the fourth quarter. Ameriprise Financial Inc. now owns 45,949 shares of the information services provider's stock valued at $3,874,000 after acquiring an additional 3,200 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Baidu by 19.4% during the fourth quarter. Nuveen Asset Management LLC now owns 166,858 shares of the information services provider's stock worth $14,068,000 after purchasing an additional 27,057 shares during the period. Quantinno Capital Management LP lifted its position in Baidu by 182.9% during the fourth quarter. Quantinno Capital Management LP now owns 5,410 shares of the information services provider's stock worth $456,000 after purchasing an additional 3,498 shares during the period. CoreView Capital Management Ltd lifted its position in Baidu by 2.0% during the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider's stock worth $106,399,000 after purchasing an additional 25,220 shares during the period. Finally, Vise Technologies Inc. bought a new stake in Baidu during the fourth quarter worth about $265,000.

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.

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