Baidu (NASDAQ:BIDU) Price Target Cut to $141.00 by Analysts at Citigroup

Baidu (NASDAQ:BIDU) had its price target decreased by research analysts at Citigroup from $142.00 to $141.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup’s price objective suggests a potential upside of 66.51% from the stock’s current price.

Other analysts have also issued reports about the stock. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Bank of America dropped their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. downgraded Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday. Benchmark decreased their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $85.00 in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu currently has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Trading Down 0.2 %

BIDU traded down $0.14 on Friday, reaching $84.68. 1,074,570 shares of the company traded hands, compared to its average volume of 3,622,943. The company has a market cap of $29.69 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a one year low of $78.95 and a one year high of $120.25. The firm has a fifty day simple moving average of $93.59 and a two-hundred day simple moving average of $91.94.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. Primecap Management Co. CA boosted its holdings in Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in Baidu in the 3rd quarter valued at about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Baidu during the third quarter worth about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new stake in shares of Baidu during the third quarter valued at about $31,587,000.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.