Morgan Stanley Lowers Baidu (NASDAQ:BIDU) Price Target to $130.00

Baidu (NASDAQ:BIDU) had its target price dropped by equities researchers at Morgan Stanley from $140.00 to $130.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley’s price target points to a potential upside of 12.53% from the stock’s current price.

Other research analysts have also issued reports about the stock. Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $91.00 to $176.00 in a research note on Friday, October 10th. The Goldman Sachs Group increased their price objective on Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday. Nomura lifted their target price on Baidu from $91.00 to $135.00 and gave the company a “neutral” rating in a report on Monday, September 22nd. Finally, Jefferies Financial Group increased their price target on shares of Baidu from $108.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.83.

Baidu Stock Performance

Shares of BIDU traded down $1.62 during trading hours on Wednesday, hitting $115.53. The company’s stock had a trading volume of 1,899,410 shares, compared to its average volume of 4,758,123. The company has a market cap of $39.91 billion, a price-to-earnings ratio of 10.64 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The business has a 50 day simple moving average of $126.49 and a two-hundred day simple moving average of $101.99. Baidu has a 52-week low of $74.71 and a 52-week high of $149.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BIDU. Primecap Management Co. CA lifted its stake in shares of Baidu by 1.4% in the 2nd quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider’s stock valued at $1,039,132,000 after acquiring an additional 170,414 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider’s stock valued at $125,338,000 after purchasing an additional 11,658 shares during the last quarter. RPD Fund Management LLC lifted its position in Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Baidu during the third quarter valued at approximately $165,334,000. Finally, Bank of America Corp DE grew its holdings in shares of Baidu by 106.7% in the third quarter. Bank of America Corp DE now owns 1,129,272 shares of the information services provider’s stock worth $148,804,000 after purchasing an additional 582,832 shares during the last quarter.

About Baidu

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.