Baidu (BIDU) Price Target Lowered to $260.00 at Benchmark

Baidu (NASDAQ:BIDU) had its price target reduced by equities research analysts at Benchmark from $300.00 to $260.00 in a note issued to investors on Wednesday, October 31st, MarketBeat reports. The firm presently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective points to a potential upside of 41.34% from the company’s current price.

Several other equities research analysts have also commented on the stock. Deutsche Bank set a $369.00 price target on shares of Baidu and gave the company a “buy” rating in a research report on Monday, October 29th. Barclays set a $250.00 price objective on Baidu and gave the company a “hold” rating in a research note on Thursday, October 18th. Zacks Investment Research upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Citigroup cut their price objective on Baidu from $295.00 to $265.00 and set an “outperform” rating for the company in a research note on Friday, October 12th. They noted that the move was a valuation call. Finally, UBS Group set a $280.00 price objective on Baidu and gave the company a “buy” rating in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $277.15.

Shares of NASDAQ BIDU traded up $6.47 during midday trading on Wednesday, hitting $183.95. 2,702,981 shares of the company’s stock traded hands, compared to its average volume of 3,326,025. Baidu has a 1 year low of $175.32 and a 1 year high of $284.22. The firm has a market capitalization of $61.54 billion, a P/E ratio of 22.82, a PEG ratio of 0.91 and a beta of 1.61. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.24.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Baidu by 11.6% in the 3rd quarter. BlackRock Inc. now owns 15,768,108 shares of the information services provider’s stock worth $3,605,851,000 after purchasing an additional 1,642,559 shares during the period. Franklin Resources Inc. boosted its stake in Baidu by 1.9% in the 3rd quarter. Franklin Resources Inc. now owns 5,260,903 shares of the information services provider’s stock worth $1,203,091,000 after purchasing an additional 95,851 shares during the period. Dodge & Cox boosted its stake in Baidu by 12.6% in the 3rd quarter. Dodge & Cox now owns 3,821,913 shares of the information services provider’s stock worth $873,995,000 after purchasing an additional 427,876 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Baidu by 13.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,300,964 shares of the information services provider’s stock worth $754,863,000 after purchasing an additional 383,983 shares during the period. Finally, Comgest Global Investors S.A.S. boosted its stake in Baidu by 9.3% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 2,754,880 shares of the information services provider’s stock worth $629,986,000 after purchasing an additional 235,000 shares during the period. Institutional investors own 62.54% 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.

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