Susquehanna Issues Positive Forecast for Baidu (NASDAQ:BIDU) Stock Price

Key Points

• Susquehanna has raised its price target for Baidu (NASDAQ:BIDU) from $85.00 to $95.00, maintaining a "neutral" rating on the stock.
• Several other brokerages have differing views on Baidu, with ratings ranging from "buy" to "hold", and an average price target consensus of $104.00.
• Baidu's stock has a market capitalization of $32.90 billion and has seen trading fluctuations between a one-year low of $74.71 and a high of $116.25.

Baidu (NASDAQ:BIDU - Get Free Report) had its price target hoisted by equities researchers at Susquehanna from $85.00 to $95.00 in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a "neutral" rating on the information services provider's stock. Susquehanna's price target indicates a potential downside of 6.83% from the company's current price.

Several other research firms also recently issued reports on BIDU. Barclays decreased their price objective on shares of Baidu from $84.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, July 18th. Jefferies Financial Group cut their target price on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Benchmark cut their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, August 21st. Wall Street Zen cut shares of Baidu from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Finally, Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $104.00.

Baidu Stock Performance

Shares of NASDAQ BIDU traded up $3.75 during trading hours on Tuesday, hitting $101.96. 7,269,151 shares of the stock were exchanged, compared to its average volume of 4,633,028. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The company's 50 day moving average is $89.58 and its 200 day moving average is $88.58. The firm has a market capitalization of $35.22 billion, a P/E ratio of 9.40 and a beta of 0.34. Baidu has a one year low of $74.71 and a one year high of $116.25.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently made changes to their positions in BIDU. Northern Trust Corp increased its position in shares of Baidu by 68.9% during the 4th quarter. Northern Trust Corp now owns 240,654 shares of the information services provider's stock worth $20,290,000 after purchasing an additional 98,178 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Baidu during the 4th quarter worth about $587,000. 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 in the last quarter. BNP Paribas Financial Markets increased its position in Baidu by 3.6% in the 4th quarter. BNP Paribas Financial Markets now owns 306,754 shares of the information services provider's stock valued at $25,862,000 after acquiring an additional 10,564 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Baidu by 14.1% in the 4th quarter. Bank of America Corp DE now owns 913,466 shares of the information services provider's stock valued at $77,014,000 after acquiring an additional 112,680 shares in the last quarter.

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.