Baidu (NASDAQ:BIDU – Free Report) had its price target trimmed by Jefferies Financial Group from $174.00 to $139.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.
BIDU has been the subject of a number of other research reports. Morgan Stanley downgraded shares of Baidu from an overweight rating to an equal weight rating and lowered their target price for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Citigroup dropped their target price on Baidu from $170.00 to $155.00 and set a buy rating on the stock in a research report on Monday, July 15th. Macquarie downgraded shares of Baidu from a strong-buy rating to a hold rating in a report on Friday, May 17th. Susquehanna reduced their price objective on Baidu from $150.00 to $135.00 and set a positive rating for the company in a report on Friday, May 24th. Finally, Loop Capital cut their target price on shares of Baidu from $155.00 to $130.00 and set a buy rating for the company in a research report on Friday, June 21st. Four research 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 currently has a consensus rating of Moderate Buy and a consensus target price of $138.13.
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Baidu Trading Down 0.1 %
Institutional Investors Weigh In On Baidu
Large investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its stake in Baidu by 14.5% during the 1st quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after buying an additional 50,599 shares during the period. Trexquant Investment LP acquired a new stake in shares of Baidu during the 4th quarter valued at approximately $1,476,000. SRN Advisors LLC lifted its position in shares of Baidu by 111.5% in the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after buying an additional 8,272 shares during the last quarter. Perpetual Ltd lifted its holdings in Baidu by 45.4% in the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 45,975 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Baidu by 54.5% in the 4th quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock worth $10,159,000 after purchasing an additional 30,103 shares during the last quarter.
About Baidu
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.
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