Nomura Cuts Baidu (NASDAQ:BIDU) Price Target to $186.00

Key Points

• Nomura cut its Baidu price target to $186 from $196 but kept a "buy" rating, implying roughly a 56.6% upside from the stock's prior close.
• Analyst consensus is a "Moderate Buy" with an average target of $157.89, based on 1 Strong Buy, 15 Buy, 6 Hold and 1 Sell ratings.
• Baidu shares recently traded near $118.79, with a market cap of about $41.0B, a P/E around 74.7, and a 52‑week range of $74.71–$165.30.

Baidu (NASDAQ:BIDU - Get Free Report) had its target price reduced by analysts at Nomura from $196.00 to $186.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a "buy" rating on the information services provider's stock. Nomura's price objective points to a potential upside of 56.58% from the stock's previous close.

BIDU has been the topic of a number of other reports. Citigroup reaffirmed a "buy" rating on shares of Baidu in a research report on Tuesday, January 13th. Jefferies Financial Group lifted their price target on shares of Baidu from $159.00 to $181.00 and gave the company a "buy" rating in a report on Friday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Baidu from a "hold" rating to a "buy" rating and set a $160.00 price target for the company in a research report on Thursday, November 6th. Zephirin Group increased their price objective on shares of Baidu from $88.00 to $89.00 and gave the stock a "sell" rating in a research note on Monday. Finally, The Goldman Sachs Group lifted their target price on shares of Baidu from $154.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of "Moderate Buy" and an average target price of $157.89.

Baidu Trading Up 0.7%

Shares of NASDAQ:BIDU opened at $118.79 on Friday. The stock's 50-day simple moving average is $141.76 and its two-hundred day simple moving average is $126.92. The stock has a market capitalization of $41.04 billion, a price-to-earnings ratio of 74.71 and a beta of 0.32. Baidu has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.91 and a current ratio of 1.76.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently modified their holdings of the business. Sankala Group LLC purchased a new stake in Baidu in the 4th quarter valued at about $46,000. Compound Planning Inc. raised its stake in shares of Baidu by 22.6% during the fourth quarter. Compound Planning Inc. now owns 6,418 shares of the information services provider's stock valued at $839,000 after acquiring an additional 1,181 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Baidu by 350.5% in the fourth quarter. Vident Advisory LLC now owns 22,739 shares of the information services provider's stock valued at $2,971,000 after purchasing an additional 17,692 shares during the period. Beacon Pointe Advisors LLC grew its stake in Baidu by 2.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 5,312 shares of the information services provider's stock worth $694,000 after purchasing an additional 132 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Baidu by 40.0% during the 4th quarter. NewEdge Advisors LLC now owns 34,257 shares of the information services provider's stock worth $4,476,000 after purchasing an additional 9,796 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.