Citigroup Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price target reduced by Citigroup from $142.00 to $141.00 in a report issued on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

A number of other equities analysts have also commented on the company. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Bank of America reduced their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.75.

Baidu Stock Performance

NASDAQ:BIDU opened at $85.05 on Friday. The firm has a market capitalization of $29.82 billion, a PE ratio of 10.41, a PEG ratio of 1.12 and a beta of 0.51. Baidu has a 1 year low of $78.95 and a 1 year high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $93.57 and its 200 day simple moving average is $91.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Guinness Asset Management LTD increased its position in shares of Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after buying an additional 130 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Baidu by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after acquiring an additional 140 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after acquiring an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC grew its position in Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 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.