Baidu (NASDAQ:BIDU) Price Target Increased to $109.00 by Analysts at Sanford C. Bernstein

Baidu (NASDAQ:BIDUGet Rating) had its price objective raised by analysts at Sanford C. Bernstein from $92.00 to $109.00 in a research note issued on Wednesday, The Fly reports. Sanford C. Bernstein’s price objective points to a potential upside of 12.37% from the company’s current price.

BIDU has been the topic of several other reports. Macquarie started coverage on Baidu in a report on Tuesday, August 23rd. They issued an “outperform” rating and a $188.00 target price on the stock. KGI Securities lowered Baidu from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. UBS Group initiated coverage on Baidu in a report on Friday, September 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $160.00 to $200.00 in a report on Wednesday, August 31st. Finally, Susquehanna Bancshares reduced their price objective on shares of Baidu from $200.00 to $195.00 and set a “positive” rating for the company in a research note on Monday, September 12th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Baidu currently has a consensus rating of “Moderate Buy” and an average price target of $179.88.

Baidu Price Performance

NASDAQ BIDU opened at $97.00 on Wednesday. The company has a market capitalization of $33.52 billion, a PE ratio of 59.51, a price-to-earnings-growth ratio of 0.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. The business’s fifty day moving average is $101.60 and its 200 day moving average is $125.34. Baidu has a fifty-two week low of $73.58 and a fifty-two week high of $171.87.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky purchased a new position in Baidu in the 3rd quarter valued at approximately $9,001,000. Advisors Capital Management LLC grew its stake in shares of Baidu by 1.0% during the third quarter. Advisors Capital Management LLC now owns 32,252 shares of the information services provider’s stock worth $2,949,000 after purchasing an additional 326 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Baidu by 17.4% during the third quarter. Thrivent Financial for Lutherans now owns 44,352 shares of the information services provider’s stock worth $5,211,000 after purchasing an additional 6,572 shares in the last quarter. Pathstone Family Office LLC acquired a new position in shares of Baidu during the third quarter worth $435,000. Finally, Pinpoint Asset Management Ltd acquired a new position in shares of Baidu during the third quarter worth $5,240,000. Hedge funds and other institutional investors own 26.55% of the company’s stock.

Baidu Company Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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