Citigroup Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its target price reduced by Citigroup from $142.00 to $141.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Citigroup’s price target points to a potential upside of 65.78% from the company’s previous close.

Several other analysts also recently weighed in on the company. Loop Capital dropped their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group dropped their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Finally, Mizuho dropped their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Baidu has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Stock Up 0.3 %

Baidu stock opened at $85.05 on Friday. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $120.25. The firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company’s 50 day simple moving average is $93.57 and its 200 day simple moving average is $91.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. iA Global Asset Management Inc. acquired a new stake in shares of Baidu during the second quarter worth $52,000. Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter worth about $67,000. Allspring Global Investments Holdings LLC raised its position 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 acquiring an additional 593 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Baidu in the 3rd quarter valued at about $72,000. Finally, Grove Bank & Trust boosted its position in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares in the last quarter.

Baidu Company Profile

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.