Morgan Stanley Cuts Baidu (NASDAQ:BIDU) Price Target to $120.00

Baidu (NASDAQ:BIDUGet Rating) had its target price cut by equities researchers at Morgan Stanley from $140.00 to $120.00 in a report issued on Wednesday, The Fly reports. Morgan Stanley’s price target would indicate a potential upside of 23.71% from the company’s previous close.

Several other equities analysts have also recently weighed in on BIDU. Barclays cut their price objective on Baidu from $146.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. JPMorgan Chase & Co. raised Baidu from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $160.00 to $200.00 in a research report on Wednesday, August 31st. Benchmark lowered their price target on Baidu from $270.00 to $200.00 in a research note on Wednesday. UBS Group lowered their price target on Baidu from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, StockNews.com began coverage on Baidu in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.88.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $97.00 on Wednesday. Baidu has a fifty-two week low of $73.58 and a fifty-two week high of $171.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.75 and a quick ratio of 2.75. The stock has a market capitalization of $33.52 billion, a P/E ratio of 59.51, a P/E/G ratio of 0.72 and a beta of 0.56. The business has a 50-day moving average of $101.60 and a two-hundred day moving average of $125.34.

Institutional Investors Weigh In On Baidu

A number of large investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its position in Baidu by 4.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,941 shares of the information services provider’s stock worth $289,000 after acquiring an additional 75 shares during the last quarter. Retirement Group LLC lifted its position 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 during the last quarter. United Capital Financial Advisers LLC lifted its position in Baidu by 2.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,471 shares of the information services provider’s stock worth $459,000 after acquiring an additional 88 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Baidu by 3.0% during the second quarter. Geneos Wealth Management Inc. now owns 3,102 shares of the information services provider’s stock worth $469,000 after acquiring an additional 90 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd lifted its position in Baidu by 16.0% during the first quarter. ICICI Prudential Asset Management Co Ltd now owns 695 shares of the information services provider’s stock worth $100,000 after acquiring an additional 96 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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