Baidu (NASDAQ:BIDU) Price Target Cut to $130.00 by Analysts at Benchmark

Baidu (NASDAQ:BIDU) had its price objective reduced by Benchmark from $135.00 to $130.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. HSBC cut Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Mizuho cut their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. 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 six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Trading Up 2.9 %

BIDU stock opened at $82.67 on Friday. The firm has a fifty day moving average price of $93.67 and a 200 day moving average price of $92.22. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $126.23. The firm has a market cap of $28.99 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19.

Hedge Funds Weigh In On Baidu

A number of hedge funds have recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. purchased a new stake in shares of Baidu in the second quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the period. Grove Bank & Trust increased its stake in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during the period. Denver PWM LLC bought a new stake in shares of Baidu in the second quarter valued at about $67,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Baidu in the third quarter worth about $82,000.

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.