Baidu (NASDAQ:BIDU – Get Free Report) had its price target lowered by research analysts at Sanford C. Bernstein from $135.00 to $130.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Sanford C. Bernstein’s target price would suggest a potential upside of 54.78% from the stock’s previous close.
Several other analysts also recently weighed in on BIDU. Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Loop Capital decreased their price objective on Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a report on Friday, June 21st. Susquehanna cut their target price on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Bank of America decreased their price target on Baidu from $140.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group cut their price objective on shares of Baidu from $179.00 to $174.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.07.
Read Our Latest Stock Analysis on Baidu
Baidu Stock Down 2.6 %
Hedge Funds Weigh In On Baidu
Several institutional investors and hedge funds 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 purchasing an additional 1,753,577 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock valued at $103,953,000 after acquiring an additional 900,284 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of 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 acquiring an additional 338,110 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of 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 acquiring an additional 312,467 shares in the last quarter. 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 valued at $51,192,000 after purchasing an additional 295,700 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.
Recommended Stories
- Five stocks we like better than Baidu
- What Makes a Stock a Good Dividend Stock?
- Brinker International’s Price Dip is an Appetizing Entry Point
- How to Capture the Benefits of Dividend Increases
- 3 Stocks That Could Beat the September Blues
- What Are Dividend Challengers?
- Canopy Growth Stock: Can It Sustain Recent Gains?
Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.