Benchmark Reiterates Buy Rating for Baidu

On Wednesday, Benchmark reaffirmed a "buy" rating for Baidu (NASDAQ:BIDU) in a report shared with investors. The firm has set a price target of $130.00 for the company, suggesting that there is considerable potential for the stock to rise, with an estimated upside of approximately 44.19% from its current price.

Other financial analysts have provided their assessments on Baidu shares as well. For instance, Barclays raised its price objective for Baidu from $83.00 to $95.00, assigning an "equal weight" rating in a report published on February 11th. Similarly, Mizuho increased their target from $95.00 to $105.00, labeling the stock as "outperform". Conversely, on November 27th, JPMorgan Chase downgraded Baidu from an "overweight" rating to a "neutral" rating. Citigroup lowered their price target from $142.00 to $141.00 while maintaining a "buy" designation for the stock. Nomura also downgraded Baidu from a "buy" to a "neutral" rating.

According to MarketBeat.com, the stock receives a consensus rating of "Hold" from eleven investment analysts, with eight analysts rating it as a "buy". The average target price among analysts stands at $111.25, indicating mixed sentiments among market experts. The current stock price opened at $90.16 on Wednesday, with a 50-day simple moving average of $87.12 and a 200-day simple moving average of $88.83. Baidu's market capitalization is valued at $31.61 billion, with a P/E ratio of 11.04 and a P/E/G ratio of 2.23. Additionally, the company's shares have fluctuated between a one-year low of $77.19 and a one-year high of $116.25.

Investment Activity

Recent trading activities reveal significant movements among institutional investors regarding Baidu’s stock. Primecap Management Co. increased its holdings by 1.5% in the third quarter, now holding over 12.12 million shares valued around $1.28 billion. Dodge & Cox also grew their stake by 0.4%, acquiring approximately 22,000 additional shares. Sanders Capital lifted its holdings by 0.7%, and Pictet Asset Management increased their position by 9.4% in the fourth quarter. Appaloosa LP raised its investment in Baidu by 7.2%, acquiring more shares during the same period.

About Baidu

Baidu, Inc. focuses on providing internet search services in China through its two main segments: Baidu Core and iQIYI. Their offerings include the Baidu App for mobile searches, Baidu Search for various services, Baidu Feed for personalized content, and Baidu Health for user healthcare inquiries, along with the Haokan short video application.

Baidu, Analyst, Stock