Brokerages Set Baidu, Inc. (NASDAQ:BIDU) PT at $171.64

Shares of Baidu, Inc. (NASDAQ:BIDU) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the company, MarketBeat reports. Fifteen research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $169.50.

BIDU has been the subject of several recent analyst reports. Citigroup decreased their target price on Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Benchmark decreased their price target on shares of Baidu from $210.00 to $180.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. HSBC dropped their price target on shares of Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, April 24th. Finally, Barclays dropped their target price on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th.

Baidu Price Performance

BIDU stock opened at $113.33 on Friday. The firm has a 50-day moving average of $103.06 and a two-hundred day moving average of $108.07. The firm has a market capitalization of $39.74 billion, a PE ratio of 14.68 and a beta of 0.68. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23. Baidu has a one year low of $94.25 and a one year high of $156.98.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of BIDU. Nordea Investment Management AB increased its stake in Baidu by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 347,788 shares of the information services provider’s stock valued at $41,429,000 after acquiring an additional 22,797 shares during the period. ANTIPODES PARTNERS Ltd increased its holdings in Baidu by 8.8% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after buying an additional 116,047 shares during the period. Jennison Associates LLC lifted its holdings in shares of Baidu by 54.5% during the 4th quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock worth $10,159,000 after acquiring an additional 30,103 shares during the period. Northern Trust Corp boosted its position in shares of Baidu by 1.2% during the 3rd quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock valued at $24,141,000 after acquiring an additional 2,202 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Baidu by 20.0% in the fourth quarter. New York State Common Retirement Fund now owns 58,877 shares of the information services provider’s stock worth $7,012,000 after purchasing an additional 9,800 shares in the last quarter.

About Baidu

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.