Citigroup Cuts Baidu (NASDAQ:BIDU) Price Target to $141.00

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

A number of other equities analysts have also weighed in on BIDU. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Monday, November 25th. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Jefferies Financial Group decreased their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Loop Capital cut their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $85.05 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market capitalization of $29.82 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. The stock has a fifty day moving average of $93.57 and a 200-day moving average of $91.50. Baidu has a one year low of $78.95 and a one year high of $120.25.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BIDU. iA Global Asset Management Inc. acquired a new position in Baidu in the second quarter worth approximately $52,000. Denver PWM LLC acquired a new position in shares of Baidu during the 2nd quarter worth $67,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Baidu in the 3rd quarter valued at $72,000. Finally, Grove Bank & Trust boosted its holdings in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 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.