Benchmark Reiterates Buy Rating for Baidu (NASDAQ:BIDU)

Baidu (NASDAQ:BIDU)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a note issued to investors on Wednesday,Benzinga reports. They currently have a $130.00 price objective on the information services provider’s stock. Benchmark’s price objective would indicate a potential upside of 44.19% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Barclays increased their price objective on shares of Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 11th. Mizuho raised their price objective on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Citigroup reduced their price target on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Performance

NASDAQ BIDU opened at $90.16 on Wednesday. The business’s 50-day simple moving average is $87.12 and its 200-day simple moving average is $88.83. The firm has a market capitalization of $31.61 billion, a P/E ratio of 11.04, a P/E/G ratio of 2.23 and a beta of 0.46. Baidu has a 1-year low of $77.19 and a 1-year high of $116.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Primecap Management Co. CA raised its position in shares of Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Dodge & Cox raised its holdings in shares of Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock worth $498,796,000 after purchasing an additional 22,000 shares during the period. Sanders Capital LLC lifted its position in shares of Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after buying an additional 18,334 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Baidu by 9.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock worth $203,213,000 after acquiring an additional 207,966 shares during the period. Finally, Appaloosa LP lifted its holdings in Baidu by 7.2% in the fourth quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock worth $128,818,000 after acquiring an additional 102,909 shares during 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.