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

Baidu (NASDAQ:BIDU - Get Free Report) had its price objective decreased by Citigroup from $142.00 to $141.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the information services provider's stock. Citigroup's target price suggests a potential upside of 65.78% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Mizuho dropped their price objective on shares of Baidu from $130.00 to $115.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 12th. HSBC cut Baidu from a "buy" rating to a "hold" rating and set a $100.00 price target on the stock. in a research report on Tuesday, September 24th. Hsbc Global Res cut Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Jefferies Financial Group dropped their target price on Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a report on Thursday, August 22nd. Finally, Loop Capital lowered their price target on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $113.75.

Baidu Stock Up 0.3 %

Shares of NASDAQ:BIDU traded up $0.23 during trading on Friday, hitting $85.05. The stock had a trading volume of 2,495,743 shares, compared to its average volume of 3,630,001. The company has a market capitalization of $29.82 billion, a PE ratio of 10.41, a PEG ratio of 1.11 and a beta of 0.51. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The firm's fifty day moving average is $93.57 and its 200 day moving average is $91.75. Baidu has a 12 month low of $78.95 and a 12 month high of $120.25.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently modified their holdings of BIDU. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter worth about $52,000. Denver PWM LLC purchased a new position in shares of Baidu in the second quarter worth approximately $67,000. Allspring Global Investments Holdings LLC grew its position in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after buying an additional 593 shares during the period. World Investment Advisors LLC purchased a new stake in Baidu during the third quarter valued at approximately $72,000. Finally, Grove Bank & Trust raised its position 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 acquiring an additional 130 shares during the period.

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.