Baidu (BIDU) Price Target Cut to $206.00

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Baidu (NASDAQ:BIDU) had its price objective decreased by equities researchers at Nomura from $283.00 to $206.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the information services provider’s stock. Nomura’s price objective would indicate a potential upside of 8.23% from the stock’s current price.

Several other research firms have also recently weighed in on BIDU. Zacks Investment Research cut shares of Baidu from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Deutsche Bank set a $337.00 price target on shares of Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. BidaskClub cut shares of Baidu from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. KeyCorp set a $297.00 price target on shares of Baidu and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Barclays set a $230.00 price target on shares of Baidu and gave the stock a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $283.14.

Baidu stock traded up $0.27 during midday trading on Thursday, hitting $190.33. 91,188 shares of the stock were exchanged, compared to its average volume of 3,424,774. Baidu has a 52-week low of $177.80 and a 52-week high of $284.22. The stock has a market cap of $63.59 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Investors Inc. PA purchased a new position in Baidu in the second quarter valued at about $108,000. Flagship Harbor Advisors LLC purchased a new position in Baidu in the second quarter valued at about $119,000. Bartlett & Co. LLC boosted its stake in Baidu by 71.0% in the second quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 220 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Baidu in the second quarter valued at about $150,000. Finally, CENTRAL TRUST Co boosted its stake in Baidu by 116.0% in the third quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock valued at $170,000 after acquiring an additional 398 shares during the last quarter. Hedge funds and other 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.

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