Baidu (NASDAQ:BIDU) Price Target Cut to $117.00

Baidu (NASDAQ:BIDU) had its price objective dropped by equities research analysts at Bank of America from $128.00 to $117.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Bank of America‘s price objective suggests a potential upside of 36.52% from the company’s previous close.

A number of other research firms have also commented on BIDU. Barclays dropped their price objective on shares of Baidu from $133.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Mizuho reduced their price objective on Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Susquehanna reduced their target price on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Friday, May 24th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, Macquarie downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.13.

Baidu Trading Down 0.1 %

BIDU opened at $85.70 on Friday. The business’s 50 day moving average is $88.96 and its two-hundred day moving average is $98.31. Baidu has a 52 week low of $79.68 and a 52 week high of $151.00. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of 11.47 and a beta of 0.49. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently added to or reduced their stakes in BIDU. Aristides Capital LLC acquired a new stake in shares of Baidu in the second quarter valued at approximately $1,081,000. Truist Financial Corp grew its holdings in Baidu by 3.3% during the 2nd quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock valued at $5,310,000 after buying an additional 1,956 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Baidu during the second quarter worth $606,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Baidu by 4.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,717 shares of the information services provider’s stock worth $1,013,000 after acquiring an additional 465 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Baidu by 84.5% in the second quarter. Creative Planning now owns 48,078 shares of the information services provider’s stock valued at $4,158,000 after acquiring an additional 22,020 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.