Baidu (NASDAQ:BIDU) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Baidu (NASDAQ:BIDU) has been assigned a "hold (c)" rating by Weiss Ratings, while multiple analysts have given varying ratings including a "buy" and "strong-buy" rating.
• The consensus price target for Baidu is $128.93, with shares currently trading at approximately $122.76 after a recent increase.
• Hedge funds have been actively adjusting their positions in Baidu, with notable increases in stakes from firms like Mirae Asset Global Investments and Oppenheimer & Co..

Baidu (NASDAQ:BIDU - Get Free Report)'s stock had its "hold (c)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

BIDU has been the topic of a number of other research reports. Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the stock a "buy" rating in a report on Tuesday, October 14th. Susquehanna upped their target price on shares of Baidu from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 2nd. CLSA raised shares of Baidu to a "strong-buy" rating in a research note on Monday, September 22nd. Dbs Bank raised shares of Baidu from a "hold" rating to a "buy" rating and raised their price target for the company from $85.00 to $177.00 in a research report on Thursday, September 25th. Finally, Zephirin Group initiated coverage on shares of Baidu in a research report on Monday, September 15th. They set a "sell" rating and a $92.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.93.

Baidu Stock Performance

Shares of NASDAQ BIDU traded up $2.28 during midday trading on Friday, reaching $122.76. The company's stock had a trading volume of 2,813,855 shares, compared to its average volume of 4,833,036. Baidu has a 12-month low of $74.71 and a 12-month high of $149.51. The firm has a 50 day moving average price of $115.83 and a 200-day moving average price of $96.73. The stock has a market capitalization of $42.41 billion, a P/E ratio of 11.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently added to or reduced their stakes in BIDU. Janney Montgomery Scott LLC bought a new position in Baidu during the 1st quarter valued at about $274,000. Cambridge Investment Research Advisors Inc. grew its stake in Baidu by 7.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,914 shares of the information services provider's stock worth $636,000 after acquiring an additional 509 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Baidu by 67.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,457 shares of the information services provider's stock worth $870,000 after acquiring an additional 3,824 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Baidu by 1,377.5% in the 1st 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 acquiring an additional 4,964,350 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Baidu in the 1st quarter worth about $13,964,000.

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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