Baidu, Inc. (NASDAQ:BIDU) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Baidu has a consensus analyst rating of “Moderate Buy” from 23 covering firms, with the average 1-year price target at about $162.58.
• Recent analyst actions were mixed but generally constructive, including upgrades from Wall Street Zen and Zacks Research, while Nomura and Morgan Stanley both raised their price targets on the stock.
• The stock last traded at $117.53, below its 52-week high of $165.30, and Baidu continues to show a relatively strong balance sheet with a 1.85 quick ratio and 0.22 debt-to-equity ratio.

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-three ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $162.5789.

A number of research firms have recently commented on BIDU. Wall Street Zen raised shares of Baidu from a "sell" rating to a "hold" rating in a research note on Monday, May 25th. Zacks Research upgraded Baidu from a "strong sell" rating to a "hold" rating in a report on Monday, June 15th. Nomura boosted their price objective on Baidu from $186.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, May 20th. Morgan Stanley boosted their price objective on Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. Finally, BNP Paribas Exane started coverage on Baidu in a report on Wednesday, April 1st. They set an "outperform" rating and a $161.00 target price for the company.

Baidu Price Performance

NASDAQ:BIDU opened at $117.53 on Monday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Baidu has a 52 week low of $84.64 and a 52 week high of $165.30. The stock's 50-day moving average price is $124.22 and its 200-day moving average price is $128.69. The stock has a market capitalization of $39.99 billion, a PE ratio of -979.34, a price-to-earnings-growth ratio of 2.01 and a beta of 0.56.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in BIDU. Central Asset Investments & Management Holdings HK Ltd purchased a new position in Baidu during the 4th quarter worth $2,626,000. Yarbrough Capital LLC acquired a new stake in shares of Baidu in the 4th quarter worth $1,697,000. Earnest Partners LLC boosted its holdings in shares of Baidu by 21.9% in the third quarter. Earnest Partners LLC now owns 818,930 shares of the information services provider's stock valued at $107,910,000 after acquiring an additional 146,992 shares in the last quarter. TT International Asset Management LTD purchased a new stake in shares of Baidu in the fourth quarter valued at about $33,727,000. Finally, Clearline Capital LP acquired a new position in shares of Baidu during the third quarter worth about $8,833,000.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China's leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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