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

Baidu (NASDAQ:BIDU) had its price target reduced by investment analysts at Susquehanna from $140.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. Susquehanna’s target price would suggest a potential upside of 8.35% from the stock’s current price.

Several other research firms also recently weighed in on BIDU. Barclays reduced their target price on Baidu from $124.00 to $96.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. Bank of America dropped their price objective on shares of Baidu from $180.00 to $165.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Zacks Research lowered shares of Baidu from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Nomura increased their price target on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Finally, Benchmark cut their price objective on Baidu from $215.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.89.

Baidu Trading Down 0.0%

Shares of Baidu stock traded down $0.03 during mid-day trading on Friday, hitting $96.91. 665,395 shares of the stock were exchanged, compared to its average volume of 2,636,841. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $32.97 billion, a price-to-earnings ratio of -45.93, a price-to-earnings-growth ratio of 4.12 and a beta of 0.58. The company has a 50-day simple moving average of $107.20 and a 200 day simple moving average of $119.04. Baidu has a twelve month low of $89.60 and a twelve month high of $165.30.

Institutional Investors Weigh In On Baidu

Large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Baidu by 38.0% during the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after buying an additional 745,588 shares during the period. RPD Fund Management LLC boosted its position in Baidu by 161.6% in the 2nd quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after buying an additional 777,570 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Baidu by 307.9% during the second quarter. Alyeska Investment Group L.P. now owns 1,209,089 shares of the information services provider’s stock valued at $138,187,000 after acquiring an additional 912,638 shares in the last quarter. Capital World Investors grew its stake in shares of Baidu by 21.0% during the fourth quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock valued at $154,552,000 after acquiring an additional 205,040 shares in the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Baidu by 127.8% during the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after acquiring an additional 649,490 shares during the last quarter.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.