Baidu (NASDAQ:BIDU) had its target price lowered by Nomura from $283.00 to $206.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a neutral rating on the information services provider’s stock.
BIDU has been the topic of several other research reports. Credit Suisse Group raised Baidu from a neutral rating to an outperform rating and set a $307.00 target price on the stock in a research note on Monday, July 9th. BidaskClub raised Baidu from a hold rating to a buy rating in a research note on Thursday, July 12th. Zacks Investment Research lowered Baidu from a hold rating to a sell rating in a research note on Wednesday, July 11th. ValuEngine lowered Baidu from a hold rating to a sell rating in a research note on Thursday, September 6th. Finally, Susquehanna Bancshares initiated coverage on Baidu in a research note on Friday, September 7th. They set a positive rating and a $325.00 target price on the stock. 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 company presently has a consensus rating of Buy and a consensus price target of $278.86.
BIDU traded down $6.78 during mid-day trading on Thursday, hitting $194.69. 4,356,885 shares of the stock were exchanged, compared to its average volume of 3,338,461. Baidu has a 1-year low of $177.80 and a 1-year high of $284.22. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $63.59 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.02 and a beta of 1.49.
Hedge funds have recently bought and sold shares of the business. Federated Investors Inc. PA acquired a new stake in Baidu in the 2nd quarter valued at about $108,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Baidu during the 2nd quarter worth about $119,000. Bartlett & Co. LLC raised its position in shares of Baidu by 71.0% during the 2nd quarter. Bartlett & Co. LLC now owns 530 shares of the information services provider’s stock worth $129,000 after acquiring an additional 220 shares in the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Baidu during the 2nd quarter worth about $150,000. Finally, CENTRAL TRUST Co raised its position in shares of Baidu by 116.0% during the 3rd quarter. CENTRAL TRUST Co now owns 741 shares of the information services provider’s stock worth $170,000 after acquiring an additional 398 shares in the last quarter. 60.84% of the stock is currently owned by institutional investors.
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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