Baidu (NASDAQ:BIDU) Raised to Buy at StockNews.com

Baidu (NASDAQ:BIDU) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other equities analysts have also recently commented on the company. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Bank of America lowered their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Price Performance

NASDAQ:BIDU traded up $0.84 during mid-day trading on Tuesday, reaching $83.51. The stock had a trading volume of 3,127,370 shares, compared to its average volume of 3,633,648. Baidu has a 12 month low of $78.95 and a 12 month high of $126.23. The stock has a market capitalization of $29.28 billion, a PE ratio of 10.22, a P/E/G ratio of 1.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a 50-day simple moving average of $93.63 and a two-hundred day simple moving average of $92.04.

Hedge Funds Weigh In On Baidu

A number of hedge funds have recently bought and sold shares of BIDU. Primecap Management Co. CA lifted its position in shares of Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Baidu during the third quarter valued at approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Baidu during the third quarter worth $36,272,000. Finally, Hhlr Advisors LTD. purchased a new position in Baidu in the third quarter worth $31,587,000.

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.