Benchmark Lowers Baidu (NASDAQ:BIDU) Price Target to $180.00

Baidu (NASDAQ:BIDU) had its price target lowered by investment analysts at Benchmark from $210.00 to $180.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective would suggest a potential upside of 62.85% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup cut their price target on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Barclays reduced their price target on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. HSBC lowered their price target on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $110.53 on Monday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $103.03 and a 200 day simple moving average of $108.09. Baidu has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The company has a market cap of $38.76 billion, a PE ratio of 14.32 and a beta of 0.68.

Institutional Trading of Baidu

A number of hedge funds have recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in Baidu during the 4th quarter worth approximately $25,000. Headinvest LLC purchased a new position in shares of Baidu during the third quarter valued at $36,000. Newbridge Financial Services Group Inc. acquired a new position in Baidu during the first quarter valued at $32,000. FNY Investment Advisers LLC purchased a new stake in Baidu in the 4th quarter worth about $42,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Baidu during the 4th quarter worth about $48,000.

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.