Baidu (NASDAQ:BIDU) Price Target Raised to $89.00

Baidu (NASDAQ:BIDU) had its price objective increased by research analysts at Zephirin Group from $88.00 to $89.00 in a research report issued on Monday,MarketScreener reports. The brokerage presently has a “sell” rating on the information services provider’s stock. Zephirin Group’s target price would indicate a potential downside of 27.22% from the stock’s previous close.

A number of other brokerages have also weighed in on BIDU. Nomura lifted their price objective on Baidu from $178.00 to $196.00 and gave the company a “buy” rating in a report on Monday, January 26th. Citigroup restated a “buy” rating on shares of Baidu in a research note on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Baidu from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Thursday, November 6th. Zacks Research downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Benchmark reaffirmed a “buy” rating on shares of Baidu in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.94.

Baidu Stock Down 1.7%

Shares of NASDAQ:BIDU opened at $122.28 on Monday. Baidu has a fifty-two week low of $74.71 and a fifty-two week high of $165.30. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $142.08 and its 200-day simple moving average is $126.59. The company has a market cap of $42.24 billion, a price-to-earnings ratio of 76.87 and a beta of 0.33.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in the business. UMB Bank n.a. raised its position in Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares during the last quarter. Binnacle Investments Inc purchased a new position in shares of Baidu during the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC raised its position in shares of Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after purchasing an additional 372 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after buying an additional 105 shares in the last quarter. Finally, Winthrop Capital Management LLC acquired a new stake in Baidu during the 2nd quarter valued at $39,000.

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.