Baidu (NASDAQ:BIDU) Earns Outperform Rating from Analysts at BNP Paribas Exane
by Danessa Lincoln · The Markets DailyBNP Paribas Exane initiated coverage on shares of Baidu (NASDAQ:BIDU – Free Report) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued an outperform rating and a $161.00 price target on the information services provider’s stock.
A number of other research analysts also recently issued reports on BIDU. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and upped their price objective for the company from $134.00 to $180.00 in a research note on Tuesday, February 3rd. Barclays decreased their price objective on shares of Baidu from $147.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. UBS Group reiterated a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Baidu in a research report on Monday, December 29th. Finally, Jefferies Financial Group raised their price target on shares of Baidu from $159.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, January 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and a consensus target price of $158.05.
Read Our Latest Research Report on BIDU
Baidu Stock Performance
Shares of BIDU stock opened at $110.96 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $37.75 billion, a price-to-earnings ratio of 69.79 and a beta of 0.44. Baidu has a 52-week low of $74.71 and a 52-week high of $165.30. The company has a 50-day simple moving average of $129.54 and a two-hundred day simple moving average of $129.64.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in shares of Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock valued at $354,014,000 after buying an additional 745,588 shares during the period. RPD Fund Management LLC grew its stake in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after acquiring an additional 777,570 shares in the last quarter. Schroder Investment Management Group purchased a new position in Baidu during the third quarter valued at approximately $165,334,000. Capital World Investors increased its holdings in Baidu by 21.0% during the 4th quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after acquiring an additional 205,040 shares during the period. Finally, ARK Investment Management LLC increased its holdings in Baidu by 127.8% during the 4th quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after acquiring an additional 649,490 shares during the period.
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.