Nomura Forecasts Strong Price Appreciation for Baidu (NASDAQ:BIDU) Stock

Baidu (NASDAQ:BIDU) had its price objective increased by Nomura from $178.00 to $196.00 in a report issued on Monday,MarketScreener reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Nomura’s price target would suggest a potential upside of 24.33% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $188.00 in a research note on Monday, November 24th. Benchmark restated a “buy” rating on shares of Baidu in a research report on Monday, January 12th. Zacks Research raised Baidu from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Baidu from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Thursday, November 6th. Finally, Morgan Stanley set a $150.00 price target on shares of Baidu in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.78.

Baidu Price Performance

BIDU opened at $157.64 on Monday. The stock has a market capitalization of $54.46 billion, a PE ratio of 52.37 and a beta of 0.30. The stock’s 50 day moving average price is $132.58 and its 200-day moving average price is $118.13. Baidu has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91.

Institutional Trading of Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in Baidu during the first quarter worth approximately $334,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Baidu by 128.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,203 shares of the information services provider’s stock valued at $536,000 after acquiring an additional 3,482 shares during the period. Ballentine Partners LLC purchased a new stake in Baidu in the 2nd quarter valued at $234,000. CX Institutional boosted its stake in Baidu by 34.1% during the 2nd quarter. CX Institutional now owns 715 shares of the information services provider’s stock worth $61,000 after purchasing an additional 182 shares during the period. Finally, Cooper Financial Group purchased a new position in Baidu during the 2nd quarter worth $519,000.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.