Baidu (NASDAQ:BIDU) Price Target Cut to $176.00 by Analysts at The Goldman Sachs Group

Baidu (NASDAQ:BIDUGet Rating) had its price objective decreased by equities researchers at The Goldman Sachs Group from $184.00 to $176.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the information services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 81.44% from the stock’s current price.

A number of other research analysts have also issued reports on BIDU. Susquehanna Bancshares reduced their price target on Baidu from $200.00 to $195.00 and set a “positive” rating for the company in a research report on Monday, September 12th. UBS Group cut their price objective on Baidu from $180.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup cut their price objective on Baidu from $169.00 to $166.00 and set a “buy” rating for the company in a report on Wednesday. Sanford C. Bernstein upped their price objective on Baidu from $92.00 to $109.00 in a report on Wednesday. Finally, JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $160.00 to $200.00 in a research report on Wednesday, August 31st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.88.

Baidu Trading Up 2.0 %

Shares of BIDU stock opened at $97.00 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.75. Baidu has a 1 year low of $73.58 and a 1 year high of $171.87. The stock has a fifty day moving average of $101.60 and a two-hundred day moving average of $125.34. The firm has a market capitalization of $33.52 billion, a PE ratio of 59.51, a price-to-earnings-growth ratio of 0.72 and a beta of 0.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Group LLC lifted its holdings in Baidu by 92.0% during the second quarter. Retirement Group LLC now owns 167 shares of the information services provider’s stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Baidu during the second quarter worth about $34,000. Sargent Bickham Lagudis LLC lifted its holdings in Baidu by 2,025.0% during the second quarter. Sargent Bickham Lagudis LLC now owns 255 shares of the information services provider’s stock worth $38,000 after acquiring an additional 243 shares in the last quarter. Allworth Financial LP lifted its holdings in Baidu by 123.7% during the third quarter. Allworth Financial LP now owns 255 shares of the information services provider’s stock worth $30,000 after acquiring an additional 141 shares in the last quarter. Finally, Heritage Wealth Management LLC bought a new position in Baidu during the second quarter worth about $39,000. 26.55% of the stock is currently owned by institutional investors.

Baidu Company Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.

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Analyst Recommendations for Baidu (NASDAQ:BIDU)

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