Baidu (BIDU) Price Target Cut to $260.00 by Analysts at Benchmark

Baidu (NASDAQ:BIDU) had its target price lowered by Benchmark from $300.00 to $260.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the information services provider’s stock.

Several other research analysts have also issued reports on the company. Credit Suisse Group raised Baidu from a neutral rating to an outperform rating and set a $307.00 target price for the company in a research report on Monday, July 9th. Susquehanna Bancshares initiated coverage on Baidu in a research report on Friday, September 7th. They issued a positive rating and a $325.00 target price for the company. BidaskClub lowered Baidu from a sell rating to a strong sell rating in a research report on Friday, August 31st. ValuEngine lowered Baidu from a hold rating to a sell rating in a research report on Thursday, September 6th. Finally, Citigroup decreased their target price on Baidu from $295.00 to $265.00 and set an outperform rating for the company in a research report on Friday, October 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $278.86.

Shares of NASDAQ:BIDU opened at $194.69 on Wednesday. Baidu has a 52-week low of $177.80 and a 52-week high of $284.22. The company has a market capitalization of $67.51 billion, a PE ratio of 24.16, a PEG ratio of 1.09 and a beta of 1.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional investors have recently bought and sold shares of the stock. BP PLC boosted its stake in Baidu by 3.9% during the 3rd quarter. BP PLC now owns 45,360 shares of the information services provider’s stock valued at $10,372,000 after purchasing an additional 1,700 shares during the last quarter. Sloane Robinson LLP boosted its stake in Baidu by 8.9% during the 3rd quarter. Sloane Robinson LLP now owns 124,400 shares of the information services provider’s stock valued at $28,448,000 after purchasing an additional 10,200 shares during the last quarter. Power Corp of Canada purchased a new stake in Baidu during the 3rd quarter valued at $1,326,000. First Long Island Investors LLC boosted its stake in Baidu by 1.4% during the 3rd quarter. First Long Island Investors LLC now owns 62,365 shares of the information services provider’s stock valued at $14,262,000 after purchasing an additional 874 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Baidu by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 18,706 shares of the information services provider’s stock valued at $4,278,000 after purchasing an additional 1,030 shares during the last quarter. Institutional investors own 60.84% of the company’s stock.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through mobile browsers; Baidu Feed that provides users with personalized timeline to meet their personal interests reflected in their past online behaviors, such as search and browsing, and their demographics; and Bear Paw Account that enables verified brands and businesses to aggregate their content from Websites, wapsites, and open-platform apps.

See Also: Are analyst ratings accurate?

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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.

Leave a Reply