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

Key Points

• Baidu has a “Moderate Buy” consensus rating from 23 analysts: 16 rate it a buy, one a strong buy, two a hold and four a sell. The average 12-month price target is $154.89.
• Analyst views have become more mixed, with recent price-target cuts from JPMorgan, Barclays, Morgan Stanley and Benchmark; Morgan Stanley also downgraded the stock to “underweight” with an $80 target.
• Baidu shares opened at $95.28, near the lower end of their 52-week range of $89.60 to $165.30, with the stock down 1.9% and trading below its 50-day and 200-day moving averages.

Shares of Baidu, Inc. (NASDAQ:BIDU - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-three research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, two have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $154.8889.

A number of research firms have recently commented on BIDU. Nomura raised their price target on Baidu from $186.00 to $190.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. dropped their target price on shares of Baidu from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Barclays reduced their price target on shares of Baidu from $124.00 to $96.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. Morgan Stanley downgraded shares of Baidu from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $130.00 to $80.00 in a research report on Wednesday, August 19th. Finally, Benchmark dropped their price objective on shares of Baidu from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, August 19th.

Baidu Stock Down 1.9%

NASDAQ:BIDU opened at $95.28 on Tuesday. Baidu has a 1 year low of $89.60 and a 1 year high of $165.30. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market cap of $32.42 billion, a price-to-earnings ratio of -45.16, a PEG ratio of 4.29 and a beta of 0.58. The stock has a 50-day moving average price of $106.58 and a two-hundred day moving average price of $118.32.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently modified their holdings of the stock. Signature Equity Partners LLC bought a new stake in shares of Baidu in the 1st quarter valued at about $25,000. Binnacle Investments Inc bought a new position in Baidu during the second quarter worth about $29,000. Sankala Group LLC bought a new position in Baidu during the fourth quarter worth about $46,000. Brown Brothers Harriman & Co. grew its holdings in Baidu by 35.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider's stock worth $53,000 after purchasing an additional 105 shares during the period. Finally, UMB Bank n.a. increased its position in Baidu by 25.9% during the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider's stock worth $56,000 after buying an additional 88 shares during the last quarter.

Baidu Company Profile

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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