Benchmark Lowers Baidu (NASDAQ:BIDU) Price Target to $115.00

Baidu (NASDAQ:BIDU) had its price target cut by equities research analysts at Benchmark from $120.00 to $115.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Benchmark’s target price points to a potential upside of 27.76% from the stock’s previous close.

BIDU has been the subject of several other reports. Macquarie reiterated a “neutral” rating on shares of Baidu in a research report on Wednesday, May 21st. Barclays lowered their price objective on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. Jefferies Financial Group decreased their price target on shares of Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Finally, Citigroup increased their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.11.

Baidu Stock Up 2.7%

BIDU opened at $90.01 on Thursday. Baidu has a one year low of $74.71 and a one year high of $116.25. The company has a fifty day moving average price of $87.73 and a 200-day moving average price of $88.42. The firm has a market capitalization of $31.09 billion, a P/E ratio of 8.30 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 2.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Baidu during the 4th quarter valued at $3,497,000. GeoWealth Management LLC grew its stake in Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after acquiring an additional 308 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Baidu by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,350,315 shares of the information services provider’s stock worth $113,845,000 after buying an additional 4,236 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Baidu by 749.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,872 shares of the information services provider’s stock worth $326,000 after buying an additional 3,416 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in shares of Baidu by 8.0% in the 4th quarter. Pinebridge Investments L.P. now owns 66,383 shares of the information services provider’s stock worth $5,597,000 after buying an additional 4,939 shares in the last quarter.

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.