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Baidu (NASDAQ:BIDU) Raised to "Strong-Buy" at CLSA

Baidu logo with Computer and Technology background

Key Points

  • Baidu has been upgraded to a "strong-buy" rating by CLSA, reflecting increasing confidence from analysts in the stock's performance.
  • Nomura has raised its price target for Baidu from $91 to $135, while other firms offer varying ratings, including a sell rating from Zephirin Group.
  • The stock currently has a market capitalization of $45.92 billion and a P/E ratio of 12.25, indicating favorable valuation metrics.
  • MarketBeat previews the top five stocks to own by November 1st.

Baidu (NASDAQ:BIDU - Get Free Report) was upgraded by equities research analysts at CLSA to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. Nomura boosted their price objective on shares of Baidu from $91.00 to $135.00 and gave the stock a "neutral" rating in a research report on Monday. Arete Research upgraded shares of Baidu from a "sell" rating to a "buy" rating and set a $143.00 price objective on the stock in a research report on Tuesday, September 16th. Barclays decreased their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Zephirin Group initiated coverage on shares of Baidu in a research report on Monday, September 15th. They issued a "sell" rating and a $92.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Baidu from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Baidu has a consensus rating of "Hold" and a consensus price target of $117.45.

Get Our Latest Stock Analysis on Baidu

Baidu Stock Performance

Shares of BIDU opened at $132.92 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $45.92 billion, a P/E ratio of 12.25 and a beta of 0.34. The company's fifty day moving average is $98.64 and its two-hundred day moving average is $91.57. Baidu has a 1 year low of $74.71 and a 1 year high of $141.60.

Institutional Trading of Baidu

Several large investors have recently bought and sold shares of the company. Primecap Management Co. CA grew its position in shares of 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 worth $1,039,132,000 after buying an additional 170,414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 worth $490,035,000 after buying an additional 4,964,350 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 worth $125,338,000 after buying an additional 11,658 shares in the last quarter. RPD Fund Management LLC grew its position in shares of 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 worth $107,959,000 after buying an additional 777,570 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $95,494,000 after buying an additional 25,834 shares in the last quarter.

About Baidu

(Get Free Report)

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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Analyst Recommendations for Baidu (NASDAQ:BIDU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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