Baidu (NASDAQ:BIDU) Price Target Raised to $178.00 at Nomura

Baidu (NASDAQ:BIDU) had its price target raised by equities research analysts at Nomura from $140.00 to $178.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the information services provider’s stock. Nomura’s price target points to a potential upside of 18.92% from the stock’s previous close.

A number of other research analysts have also recently commented on BIDU. Benchmark raised their target price on Baidu from $115.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. JPMorgan Chase & Co. upgraded Baidu from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $188.00 in a report on Monday, November 24th. The Goldman Sachs Group lifted their price target on shares of Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. UBS Group set a $188.00 price objective on shares of Baidu in a research note on Monday, November 24th. Finally, Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Baidu currently has an average rating of “Moderate Buy” and an average target price of $149.56.

Baidu Price Performance

BIDU stock opened at $149.68 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. Baidu has a 52 week low of $74.71 and a 52 week high of $151.08. The firm’s fifty day moving average is $123.62 and its 200 day moving average is $110.81. The firm has a market cap of $51.71 billion, a P/E ratio of 49.73 and a beta of 0.30.

Institutional Trading of Baidu

A number of large investors have recently made changes to their positions in BIDU. Binnacle Investments Inc acquired a new position in shares of Baidu during the 2nd quarter worth $29,000. Winthrop Capital Management LLC acquired a new stake in Baidu during the 2nd quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. bought a new stake in Baidu in the second quarter valued at about $43,000. UMB Bank n.a. boosted its holdings in shares of Baidu by 65.0% in the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after buying an additional 134 shares during the period. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Baidu by 12,400.0% during the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the last quarter.

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.