Benchmark Reiterates Buy Rating for Baidu (NASDAQ:BIDU)

On Wednesday, analysts at Benchmark reaffirmed a "buy" rating for Baidu (NASDAQ:BIDU) in a research note directed at investors. They set a target price of $130.00 for the company's stock, suggesting that this reflects a potential upside of 44.19% from Baidu's current trading price.

Other equity research analysts have also provided their perspectives on Baidu's stock. For instance, Barclays revised their price target on Baidu from $83.00 to $95.00, categorizing it as "equal weight" in a report published on February 11. Additionally, Mizuho raised its target for Baidu from $95.00 to $105.00, awarding the company an "outperform" rating.

Meanwhile, JPMorgan Chase & Co. downgraded Baidu's rating from "overweight" to "neutral" in their report from November 27 of last year. On the other hand, Citigroup lowered its price target, reducing it from $142.00 to $141.00 while maintaining a "buy" rating for the stock. Nomura opted to downgrade Baidu's rating from "buy" to "neutral" as well.

Currently, there is a mixture of opinions among investment analysts; while eleven have assigned a hold rating, eight analysts have given a buy rating to Baidu. According to MarketBeat.com, Baidu holds a consensus rating of "Hold" along with a consensus target price of $111.25.

Baidu Stock Performance Overview

Baidu's stock opened at $90.16 on Wednesday. The company has a 50-day simple moving average of $87.12 and a 200-day simple moving average of $88.83. Baidu's market capitalization stands at approximately $31.61 billion, with a P/E ratio of 11.04 and a P/E/G ratio of 2.23. Notably, Baidu's beta is 0.46.

Over the past year, Baidu's stock has traded between lows of $77.19 and highs of $116.25. The company exhibits a debt-to-equity ratio of 0.18 and maintains a current and quick ratio of 2.19.

Institutional Investors' Activity

Recently, large institutional investors have altered their stakes in Baidu. For instance, Primecap Management Co. CA boosted its position by 1.5% during the third quarter, and they now own 12,123,856 shares valued at around $1.28 billion after acquiring an additional 176,150 shares. Also, Dodge & Cox marginally raised their holdings by 0.4% during the fourth quarter, owning 5,916,215 shares worth about $498.8 million.

Moreover, Sanders Capital LLC increased its position in Baidu by 0.7%, owning 2,605,728 shares valued at about $274.4 million. Pictet Asset Management Holding SA uplifted its stake by 9.4%, owning 2,410,307 shares currently worth around $203.2 million. Appaloosa LP also increased its holdings by 7.2%, owning 1,527,909 shares valued at $128.8 million after purchasing an additional 102,909 shares recently.

Baidu Company Profile

Baidu, Inc. is a leading provider of internet search services in China. The company operates primarily through two segments: Baidu Core and iQIYI. Services offered include the Baidu App, which allows users to access search, feed, and other services via mobile devices, as well as Baidu Health, which connects users to healthcare providers.

This update emphasizes the confidence analysts have in Baidu's future performance, particularly as the company navigates the competitive landscape of the internet services sector in China.

Baidu, Stocks, Rating