Baidu (NASDAQ:BIDU) Price Target Cut to $145.00

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Baidu (NASDAQ:BIDU) had its price objective decreased by research analysts at Barclays from $160.00 to $145.00 in a report issued on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the information services provider’s stock. Barclays‘s price objective would suggest a potential upside of 26.20% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Macquarie set a $131.00 price target on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, July 4th. Nomura cut their price target on shares of Baidu from $181.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, May 20th. Mizuho raised their price target on shares of Bausch Health Companies from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Daiwa Capital Markets cut shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. Finally, Loop Capital began coverage on shares of TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $178.17.

Shares of BIDU opened at $114.90 on Friday. The company has a market capitalization of $40.14 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 6.19 and a beta of 1.64. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 12 month low of $106.80 and a 12 month high of $274.00. The business’s 50-day simple moving average is $114.22.

Baidu declared that its board has initiated a share repurchase plan on Thursday, May 16th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the information services provider to reacquire up to 1.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Several large investors have recently bought and sold shares of BIDU. Semmax Financial Advisors Inc. bought a new position in shares of Baidu in the fourth quarter valued at approximately $33,000. American Beacon Advisors Inc. raised its stake in shares of Baidu by 71.2% in the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock valued at $33,000 after acquiring an additional 84 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in shares of Baidu in the fourth quarter valued at approximately $45,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Baidu in the first quarter valued at approximately $45,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Baidu by 4,837.5% in the first quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 387 shares in the last quarter. Institutional investors own 59.51% of the company’s stock.

About Baidu

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 its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

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