Baidu (NASDAQ:BIDU) Coverage Initiated by Analysts at BNP Paribas Exane

Investment analysts at BNP Paribas Exane assumed coverage on shares of Baidu (NASDAQ:BIDU) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $161.00 price target on the information services provider’s stock. BNP Paribas Exane’s price objective would indicate a potential upside of 44.50% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Susquehanna upped their price target on shares of Baidu from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Benchmark reiterated a “buy” rating on shares of Baidu in a report on Friday, February 20th. UBS Group restated a “buy” rating on shares of Baidu in a research note on Wednesday, February 4th. Zephirin Group raised their target price on shares of Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Finally, Morgan Stanley decreased their price target on shares of Baidu from $150.00 to $135.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.05.

Baidu Stock Performance

BIDU stock opened at $111.42 on Wednesday. Baidu has a twelve month low of $74.71 and a twelve month high of $165.30. The firm has a market cap of $38.49 billion, a price-to-earnings ratio of 70.08 and a beta of 0.32. The business’s fifty day simple moving average is $132.59 and its two-hundred day simple moving average is $129.92. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.22.

Hedge Funds Weigh In On Baidu

A number of large investors have recently bought and sold shares of BIDU. Binnacle Investments Inc bought a new stake in Baidu during the 2nd quarter valued at $29,000. UMB Bank n.a. raised its position 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 worth $45,000 after acquiring an additional 134 shares in the last quarter. Sankala Group LLC purchased a new stake in shares of Baidu during the 4th quarter worth $46,000. Ameritas Advisory Services LLC lifted its stake in shares of Baidu by 12,400.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock worth $49,000 after purchasing an additional 372 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in Baidu by 35.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 105 shares in 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.