Credit Suisse Group Analysts Give Baidu (BIDU) a $246.00 Price Target

Credit Suisse Group set a $246.00 price objective on Baidu (NASDAQ:BIDU) in a research report released on Wednesday. The firm currently has a buy rating on the information services provider’s stock.

Several other equities analysts have also issued reports on BIDU. Zacks Investment Research lowered Baidu from a strong-buy rating to a hold rating in a research report on Tuesday, July 3rd. BidaskClub upgraded Baidu from a hold rating to a buy rating in a research report on Thursday, July 12th. Deutsche Bank set a $337.00 price objective on Baidu and gave the company a buy rating in a research report on Wednesday, August 1st. KeyCorp set a $297.00 price objective on Baidu and gave the company a buy rating in a research report on Wednesday, August 1st. Finally, ValuEngine lowered Baidu from a buy rating to a hold rating in a research report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. Baidu presently has a consensus rating of Buy and an average price target of $278.86.

Shares of BIDU opened at $194.69 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. Baidu has a 52-week low of $177.80 and a 52-week high of $284.22. The company has a market capitalization of $67.51 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Baidu by 2.1% during the 2nd quarter. BlackRock Inc. now owns 14,125,549 shares of the information services provider’s stock worth $3,432,507,000 after acquiring an additional 284,768 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Baidu by 13.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,300,964 shares of the information services provider’s stock worth $754,863,000 after purchasing an additional 383,983 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Baidu by 3.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,654,224 shares of the information services provider’s stock worth $644,976,000 after purchasing an additional 85,932 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Baidu by 14.4% during the 2nd quarter. Bank of America Corp DE now owns 1,560,081 shares of the information services provider’s stock worth $379,099,000 after purchasing an additional 196,031 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Baidu by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 1,361,263 shares of the information services provider’s stock worth $330,787,000 after purchasing an additional 51,048 shares in the last quarter. 60.84% of the stock is owned by hedge funds and other institutional investors.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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