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

Baidu (NASDAQ:BIDUGet Rating) had its target price trimmed by The Goldman Sachs Group from $184.00 to $176.00 in a report published on Wednesday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the information services provider’s stock.

BIDU has been the subject of several other research reports. Citigroup cut their price target on Baidu from $169.00 to $166.00 and set a buy rating for the company in a report on Wednesday. Susquehanna cut their price target on Baidu from $200.00 to $195.00 and set a positive rating for the company in a report on Monday, September 12th. KGI Securities lowered Baidu from an outperform rating to a neutral rating in a research note on Monday, October 24th. Barclays lowered their price objective on Baidu from $146.00 to $139.00 and set an overweight rating on the stock in a research note on Friday, October 28th. Finally, Jefferies Financial Group lowered their price objective on Baidu from $236.00 to $217.00 in a research note on Thursday, October 13th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $179.88.

Baidu Trading Up 2.0 %

Baidu stock opened at $97.00 on Wednesday. The business has a 50 day moving average price of $102.23 and a two-hundred day moving average price of $125.54. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.29. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of -16.98, a price-to-earnings-growth ratio of 0.72 and a beta of 0.56. Baidu has a 12 month low of $73.58 and a 12 month high of $171.87.

Institutional Investors Weigh In On Baidu

A number of large investors have recently bought and sold shares of BIDU. E Fund Management Hong Kong Co. Ltd. grew its position in Baidu by 134.8% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 162,243 shares of the information services provider’s stock worth $21,586,000 after acquiring an additional 93,158 shares during the last quarter. Comerica Bank grew its position in Baidu by 3.0% during the 1st quarter. Comerica Bank now owns 10,354 shares of the information services provider’s stock worth $1,266,000 after acquiring an additional 304 shares during the last quarter. National Asset Management Inc. grew its position in Baidu by 19.7% during the 1st quarter. National Asset Management Inc. now owns 2,845 shares of the information services provider’s stock worth $378,000 after acquiring an additional 468 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Baidu by 22.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 52,283 shares of the information services provider’s stock valued at $6,917,000 after buying an additional 9,438 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Baidu by 12.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 31,359 shares of the information services provider’s stock valued at $4,148,000 after buying an additional 3,558 shares during the last quarter. 26.55% of the stock is currently owned by institutional investors.

About Baidu

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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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