Morgan Stanley Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price target decreased by equities researchers at Morgan Stanley from $140.00 to $130.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 12.53% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Benchmark boosted their price target on Baidu from $115.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna increased their price objective on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Jefferies Financial Group boosted their target price on shares of Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Zephirin Group started coverage on shares of Baidu in a report on Monday, September 15th. They set a “sell” rating and a $92.00 price target for the company. Finally, Arete Research raised Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Baidu has an average rating of “Moderate Buy” and an average target price of $136.83.

Baidu Price Performance

NASDAQ:BIDU traded down $1.62 during mid-day trading on Wednesday, reaching $115.53. The stock had a trading volume of 1,899,410 shares, compared to its average volume of 4,758,123. Baidu has a 12 month low of $74.71 and a 12 month high of $149.51. The stock has a market capitalization of $39.91 billion, a PE ratio of 10.64 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a 50-day simple moving average of $126.49 and a two-hundred day simple moving average of $101.99.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BIDU. Binnacle Investments Inc acquired a new stake in Baidu in the second quarter worth $29,000. Assetmark Inc. lifted its stake in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 192 shares in the last quarter. Winthrop Capital Management LLC bought a new stake in Baidu in the 2nd quarter worth about $39,000. Mizuho Securities Co. Ltd. bought a new position in shares of Baidu in the second quarter valued at approximately $43,000. Finally, UMB Bank n.a. raised its stake in shares of Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the period.

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.