Brokerages Set Baidu Inc (BIDU) PT at $294.88

Baidu Inc (NASDAQ:BIDU) has earned an average recommendation of “Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, sixteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $294.88.

Several research analysts have recently commented on the stock. ValuEngine upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. BidaskClub upgraded shares of Baidu from a “strong sell” rating to a “sell” rating in a research note on Friday, September 14th. Susquehanna Bancshares assumed coverage on shares of Baidu in a research note on Friday, September 7th. They set a “positive” rating and a $325.00 price target on the stock. Zacks Investment Research upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, KeyCorp set a $297.00 price target on shares of Baidu and gave the stock a “buy” rating in a research note on Wednesday, August 1st.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bartlett & Co. LLC boosted its holdings in Baidu by 71.0% in the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock valued at $129,000 after purchasing an additional 220 shares during the period. BB&T Securities LLC boosted its holdings in Baidu by 0.6% in the 2nd quarter. BB&T Securities LLC now owns 40,891 shares of the information services provider’s stock valued at $9,936,000 after purchasing an additional 239 shares during the period. Elite Wealth Management Inc. boosted its holdings in Baidu by 5.7% in the 1st quarter. Elite Wealth Management Inc. now owns 4,739 shares of the information services provider’s stock valued at $1,058,000 after purchasing an additional 254 shares during the period. Crawford Investment Counsel Inc. boosted its holdings in Baidu by 39.6% in the 1st quarter. Crawford Investment Counsel Inc. now owns 1,199 shares of the information services provider’s stock valued at $268,000 after purchasing an additional 340 shares during the period. Finally, Deltec Asset Management LLC boosted its holdings in Baidu by 19.4% in the 2nd quarter. Deltec Asset Management LLC now owns 2,150 shares of the information services provider’s stock valued at $522,000 after purchasing an additional 350 shares during the period. 61.32% of the stock is owned by institutional investors and hedge funds.

Shares of BIDU opened at $226.60 on Friday. Baidu has a 12 month low of $207.74 and a 12 month high of $284.22. The firm has a market cap of $78.59 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.54. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25.

Baidu announced that its board has initiated a stock buyback program on Wednesday, June 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

About Baidu

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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