Bank of America Trims Baidu (NASDAQ:BIDU) Target Price to $117.00

Baidu (NASDAQ:BIDU) had its price target reduced by Bank of America from $128.00 to $117.00 in a research report released on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the information services provider’s stock.

A number of other analysts have also issued reports on the stock. Citigroup dropped their price target on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a research note on Monday, July 15th. Jefferies Financial Group dropped their price target on shares of Baidu from $174.00 to $139.00 and set a buy rating for the company in a research note on Thursday. Morgan Stanley lowered shares of Baidu from an overweight rating to an equal weight rating and dropped their price target for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Benchmark dropped their price target on shares of Baidu from $180.00 to $135.00 and set a buy rating for the company in a research note on Wednesday, July 31st. Finally, Mizuho decreased their price objective on shares of Baidu from $140.00 to $130.00 and set a buy rating for the company in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $138.13.

Baidu Stock Down 0.1 %

Shares of NASDAQ:BIDU opened at $85.70 on Friday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $88.96 and a 200 day simple moving average of $98.37. The firm has a market cap of $30.05 billion, a PE ratio of 11.47 and a beta of 0.49. Baidu has a 12-month low of $79.68 and a 12-month high of $151.00.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently modified their holdings of BIDU. Primecap Management Co. CA boosted its holdings in shares of Baidu by 17.2% during the second 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 acquiring an additional 1,753,577 shares during the period. National Bank of Canada FI lifted its holdings in Baidu by 90,390.0% in the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after purchasing an additional 900,284 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after purchasing an additional 338,110 shares during the period. Hsbc Holdings PLC lifted its holdings in Baidu by 139.3% in the fourth quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after purchasing an additional 312,467 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Baidu by 103.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after purchasing an additional 295,700 shares during the period.

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.