CLSA Reiterates “$138.00” Price Target for Baidu (NASDAQ:BIDU)

CLSA set a $138.00 price target on Baidu (NASDAQ:BIDU) in a research note issued to investors on Monday, Stock Target Advisor reports. The brokerage currently has a buy rating on the information services provider’s stock.

BIDU has been the topic of a number of other research reports. KeyCorp set a $179.00 target price on Baidu and gave the company a buy rating in a research report on Friday, May 17th. Benchmark cut their target price on Baidu from $245.00 to $180.00 and set a buy rating on the stock in a research report on Friday, May 17th. JPMorgan Chase & Co. reissued an overweight rating on shares of in a research report on Friday, June 28th. ValuEngine lowered Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Finally, Deutsche Bank boosted their target price on Walmart from $118.00 to $120.00 and gave the company a buy rating in a research report on Friday, May 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $179.00.

Shares of NASDAQ BIDU opened at $114.75 on Monday. The stock has a market capitalization of $39.96 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 6.63 and a beta of 1.64. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 52-week low of $106.80 and a 52-week high of $274.00. The firm has a 50 day moving average price of $114.20.

Baidu declared that its board has approved a stock buyback program on Thursday, May 16th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the information services provider to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Large investors have recently bought and sold shares of the business. American Beacon Advisors Inc. grew its stake in shares of Baidu by 71.2% during the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after purchasing an additional 84 shares in the last quarter. Semmax Financial Advisors Inc. acquired a new position in shares of Baidu during the fourth quarter worth $33,000. Oakworth Capital Inc. acquired a new position in shares of Baidu during the fourth quarter worth $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of Baidu during the first quarter worth $45,000. Finally, Executive Wealth Management LLC acquired a new position in shares of Baidu during the fourth quarter worth $45,000. Institutional investors and hedge funds own 59.51% of the company’s stock.

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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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