Baidu (NASDAQ:BIDU) Raised to "Buy" at Arete Research

Key Points

• Baidu was upgraded from a "sell" to a "buy" rating by Arete Research, with a price target of $143, suggesting a potential upside of 17.45% from its current price.
• The stock is currently experiencing positive trading momentum, up 6.0% to $121.75, with significant trading volume reported.
• Consensus ratings show seven analysts rating Baidu as a "buy" and eleven as "hold," with an overall target price of $111.80 according to MarketBeat.

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by analysts at Arete Research from a "sell" rating to a "buy" rating in a report issued on Tuesday,Benzinga reports. The brokerage presently has a $143.00 price target on the information services provider's stock. Arete Research's price target would suggest a potential upside of 17.45% from the company's current price.

Several other research analysts have also weighed in on the stock. Barclays lowered their target price on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a research note on Friday, July 18th. Benchmark dropped their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, August 21st. Macquarie restated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Jefferies Financial Group dropped their price objective on Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $111.80.

Baidu Trading Up 6.0%

BIDU stock traded up $6.93 during midday trading on Tuesday, hitting $121.75. 4,988,119 shares of the company's stock were exchanged, compared to its average volume of 4,578,177. Baidu has a 1-year low of $74.71 and a 1-year high of $121.28. The business has a 50-day simple moving average of $92.49 and a two-hundred day simple moving average of $89.52. The stock has a market capitalization of $42.06 billion, a PE ratio of 11.22 and a beta of 0.34. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in BIDU. Ameriprise Financial Inc. increased its position in Baidu by 7.5% in the 4th 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 during the period. Nuveen Asset Management LLC lifted its holdings in shares of 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 buying an additional 27,057 shares during the last quarter. Quantinno Capital Management LP increased 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 acquiring an additional 3,498 shares during the period. CoreView Capital Management Ltd raised its position in shares of 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 valued at $106,399,000 after buying an additional 25,220 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in shares of Baidu in the fourth quarter valued at 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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