Baidu (NASDAQ:BIDU) Price Target Lowered to $130.00 at Benchmark

Baidu (NASDAQ:BIDU) had its target price lowered by Benchmark from $135.00 to $130.00 in a report issued on Friday morning,Benzinga reports. Benchmark currently has a buy rating on the information services provider’s stock.

A number of other research firms have also recently weighed in on BIDU. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $119.36.

Baidu Trading Down 1.6 %

BIDU opened at $80.33 on Friday. Baidu has a 52 week low of $78.95 and a 52 week high of $126.23. The business has a fifty day simple moving average of $93.70 and a 200-day simple moving average of $92.66. The firm has a market cap of $28.17 billion, a P/E ratio of 10.58 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

A number of institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. purchased a new position in Baidu in the 3rd quarter valued at about $653,000. Public Employees Retirement System of Ohio bought a new position in Baidu in the third quarter worth about $5,009,000. Y Intercept Hong Kong Ltd bought a new position in Baidu in the third quarter worth about $3,660,000. MML Investors Services LLC lifted its holdings in Baidu by 453.5% in the third quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock worth $1,461,000 after acquiring an additional 11,370 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in Baidu by 10.8% in the third quarter. National Bank of Canada FI now owns 118,886 shares of the information services provider’s stock worth $12,518,000 after acquiring an additional 11,634 shares during 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.