Brokerages Set Baidu, Inc. (NASDAQ:BIDU) Price Target at $107.82

Baidu, Inc. (NASDAQ:BIDU) has received an average rating of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $107.82.

Several research firms recently commented on BIDU. Mizuho lifted their price target on Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Macquarie reissued a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Citigroup reduced their price objective on Baidu from $139.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, May 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Baidu in a research note on Saturday, March 8th. Finally, Wall Street Zen cut Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th.

Baidu Trading Down 1.3%

Shares of Baidu stock opened at $87.49 on Friday. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 2.96 and a beta of 0.33. The business has a 50-day moving average price of $85.63 and a 200-day moving average price of $87.75. The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. Baidu has a twelve month low of $74.71 and a twelve month high of $116.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Creekmur Asset Management LLC bought a new position in Baidu in the first quarter worth approximately $29,000. Assetmark Inc. grew its stake in Baidu by 143.3% in the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. UMB Bank n.a. lifted its holdings in Baidu by 80.3% during the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after buying an additional 179 shares during the period. Rialto Wealth Management LLC purchased a new stake in Baidu during the fourth quarter worth $42,000. Finally, CX Institutional purchased a new stake in Baidu during the first quarter worth $49,000.

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.