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

Baidu (NASDAQ:BIDU) had its price objective boosted by equities researchers at Zephirin Group from $88.00 to $89.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has a “sell” rating on the information services provider’s stock. Zephirin Group’s price target would indicate a potential downside of 25.03% from the company’s previous close.

Several other equities analysts also recently issued reports on BIDU. Morgan Stanley reduced their price objective on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. The Goldman Sachs Group boosted their price target on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Bank of America increased their price target on Baidu from $100.00 to $151.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Benchmark restated a “buy” rating on shares of Baidu in a report on Friday, February 20th. Finally, Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and an average target price of $158.94.

Baidu Price Performance

NASDAQ:BIDU opened at $118.71 on Monday. Baidu has a 12-month low of $74.71 and a 12-month high of $165.30. The firm has a market cap of $41.01 billion, a price-to-earnings ratio of 74.66 and a beta of 0.32. The company’s 50-day moving average is $141.96 and its two-hundred day moving average is $127.04. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of Baidu in the 1st quarter worth about $334,000. Envestnet Asset Management Inc. grew its holdings in shares of Baidu by 10.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,995 shares of the information services provider’s stock worth $943,000 after purchasing an additional 1,007 shares during the period. Hantz Financial Services Inc. increased its position in Baidu by 1,166.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 975 shares of the information services provider’s stock worth $84,000 after purchasing an additional 898 shares in the last quarter. Assetmark Inc. increased its position in Baidu by 127.6% during the 2nd quarter. Assetmark Inc. now owns 742 shares of the information services provider’s stock worth $64,000 after purchasing an additional 416 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in Baidu in the second quarter valued at approximately $213,000.

Baidu Company Profile

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.