Barclays Trims Baidu (NASDAQ:BIDU) Target Price to $115.00

Baidu (NASDAQ:BIDU) had its price objective lowered by Barclays from $125.00 to $115.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Other research analysts also recently issued research reports about the stock. Macquarie downgraded shares of Baidu from a strong-buy rating to a hold rating in a report on Friday, May 17th. Benchmark lowered their price objective on shares of Baidu from $180.00 to $135.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Mizuho lowered their price objective on shares of Baidu from $140.00 to $130.00 and set a buy rating on the stock in a report on Friday, May 10th. Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a buy rating on the stock in a report on Friday. Finally, Jefferies Financial Group lowered their price objective on shares of Baidu from $174.00 to $139.00 and set a buy rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Baidu presently has an average rating of Moderate Buy and a consensus price target of $138.13.

Baidu Stock Down 0.1 %

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

Hedge Funds Weigh In On Baidu

Several institutional investors have recently added to or reduced their stakes in BIDU. Primecap Management Co. CA grew its position in 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 buying an additional 1,753,577 shares during the period. National Bank of Canada FI grew its position in Baidu by 90,390.0% during the fourth quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock valued at $103,953,000 after buying an additional 900,284 shares during the period. Canada Pension Plan Investment Board boosted its position in Baidu by 49.7% during 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 boosted its position in Baidu by 139.3% during 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 boosted its position in Baidu by 103.1% during 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.