Baidu (NASDAQ:BIDU) Given New $166.00 Price Target at Citigroup

Baidu (NASDAQ:BIDUGet Rating) had its price target trimmed by Citigroup from $169.00 to $166.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other brokerages have also recently issued reports on BIDU. Sanford C. Bernstein upped their target price on Baidu from $92.00 to $109.00 in a research report on Wednesday. Susquehanna Bancshares cut their target price on Baidu from $200.00 to $195.00 and set a positive rating for the company in a research note on Monday, September 12th. UBS Group dropped their price objective on Baidu from $180.00 to $175.00 and set a buy rating for the company in a research note on Wednesday. Mizuho dropped their price objective on Baidu from $275.00 to $200.00 in a research note on Monday, November 14th. Finally, Jefferies Financial Group decreased their target price on Baidu from $236.00 to $217.00 in a report on Thursday, October 13th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $179.88.

Baidu Price Performance

Shares of BIDU opened at $97.00 on Wednesday. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of -16.93, a P/E/G ratio of 0.72 and a beta of 0.56. The business’s 50-day moving average is $102.23 and its 200-day moving average is $125.54. 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.

Institutional Trading of Baidu

Several large investors have recently modified their holdings of the stock. Retirement Group LLC grew its position in Baidu by 92.0% in the 2nd quarter. Retirement Group LLC now owns 167 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 80 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Baidu during the 2nd quarter valued at $34,000. Sargent Bickham Lagudis LLC raised its stake in shares of Baidu by 2,025.0% during the 2nd quarter. Sargent Bickham Lagudis LLC now owns 255 shares of the information services provider’s stock worth $38,000 after purchasing an additional 243 shares during the period. Allworth Financial LP raised its stake in shares of Baidu by 123.7% during the 3rd quarter. Allworth Financial LP now owns 255 shares of the information services provider’s stock worth $30,000 after purchasing an additional 141 shares during the period. Finally, Heritage Wealth Management LLC bought a new stake in shares of Baidu during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 26.55% of the company’s stock.

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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