Baidu (NASDAQ:BIDU) Stock Price Expected to Rise, Nomura Analyst Says

Key Points

• Nomura raised Baidu's price target from $91.00 to $135.00 while maintaining a "neutral" rating, suggesting a potential downside of 3.55% from the previous close.
• Multiple analysts have varying opinions on Baidu, with Jefferies rating it a "buy" and setting a target of $157.00, while Wall Street Zen downgraded it to "sell."
• Baidu stock has experienced a 3.4% increase, currently trading at $139.97, with a market cap of $48.35 billion and a price-to-earnings ratio of 12.84.

Baidu (NASDAQ:BIDU - Free Report) had its price target upped by Nomura from $91.00 to $135.00 in a report released on Monday morning,MarketScreener reports. The brokerage currently has a neutral rating on the information services provider's stock.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group upped their target price on Baidu from $108.00 to $157.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Barclays dropped their target price on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a report on Friday, July 18th. Arete upgraded Baidu from a "sell" rating to a "buy" rating and set a $143.00 target price on the stock in a report on Tuesday, September 16th. Zacks Research upgraded Baidu from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Zephirin Group began coverage on Baidu in a report on Monday, September 15th. They issued a "sell" rating and a $92.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $116.00.

Baidu Stock Up 0.9%

Shares of BIDU traded up $1.28 during trading hours on Monday, reaching $136.63. The company's stock had a trading volume of 6,893,401 shares, compared to its average volume of 7,365,808. The firm has a market cap of $47.20 billion, a price-to-earnings ratio of 12.59 and a beta of 0.34. Baidu has a 1-year low of $74.71 and a 1-year high of $141.60. 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 50 day moving average of $97.06 and a two-hundred day moving average of $91.04.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA grew its holdings in Baidu by 1.4% during the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider's stock valued at $1,039,132,000 after purchasing an additional 170,414 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Baidu by 1,377.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after purchasing an additional 4,964,350 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Baidu by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after purchasing an additional 11,658 shares during the last quarter. RPD Fund Management LLC grew its holdings in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Baidu by 2.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider's stock valued at $95,494,000 after purchasing an additional 25,834 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.