Benchmark Trims Baidu (NASDAQ:BIDU) Target Price to $165.00

Baidu (NASDAQ:BIDU) had its price objective trimmed by Benchmark to $165.00 in a research report released on Tuesday morning, The Fly reports. The firm currently has a buy rating on the information services provider’s stock.

Other analysts also recently issued reports about the company. Macquarie set a $131.00 price objective on Baidu and gave the company a hold rating in a research report on Thursday, July 4th. Jefferies Financial Group started coverage on Baidu in a research report on Monday, August 5th. They issued a buy rating and a $132.00 price objective on the stock. BidaskClub downgraded Baidu from a sell rating to a strong sell rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. began coverage on Baidu in a research report on Wednesday, July 10th. They issued an overweight rating on the stock. Finally, Mizuho reduced their target price on Baidu from $215.00 to $205.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $165.84.

Shares of NASDAQ:BIDU opened at $105.45 on Tuesday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.34. Baidu has a 52-week low of $93.39 and a 52-week high of $234.88. The stock’s fifty day simple moving average is $108.47 and its 200-day simple moving average is $140.47. The company has a market capitalization of $37.98 billion, a P/E ratio of 13.52, a P/E/G ratio of 5.52 and a beta of 1.70.

Baidu declared that its board has approved a share repurchase program on Thursday, May 16th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently added to or reduced their stakes in BIDU. Comerica Securities Inc. lifted its holdings in shares of Baidu by 20.6% in the fourth quarter. Comerica Securities Inc. now owns 2,888 shares of the information services provider’s stock worth $458,000 after buying an additional 493 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Baidu by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 628,173 shares of the information services provider’s stock worth $99,782,000 after buying an additional 12,720 shares in the last quarter. Strs Ohio purchased a new position in shares of Baidu in the first quarter worth $9,891,000. Winslow Evans & Crocker Inc. lifted its holdings in shares of Baidu by 224.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 810 shares of the information services provider’s stock worth $134,000 after buying an additional 560 shares in the last quarter. Finally, Bellecapital International Ltd. lifted its holdings in shares of Baidu by 6.9% in the first quarter. Bellecapital International Ltd. now owns 24,149 shares of the information services provider’s stock worth $3,981,000 after buying an additional 1,568 shares in the last quarter. Institutional investors own 58.10% 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 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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