Baidu (NASDAQ:BIDU) Price Target Cut to $165.00 by Analysts at Bank of America

Baidu (NASDAQ:BIDU) had its price target cut by Bank of America from $180.00 to $165.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other research firms have also commented on BIDU. Wall Street Zen raised shares of Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings downgraded shares of Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Susquehanna raised their target price on shares of Baidu from $120.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, May 20th. Morgan Stanley boosted their target price on shares of Baidu from $135.00 to $140.00 in a research report on Tuesday, May 19th. Finally, Benchmark restated a “buy” rating and set a $215.00 price target on shares of Baidu in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.11.

Baidu Stock Down 3.2%

BIDU opened at $109.73 on Tuesday. The firm has a market cap of $37.34 billion, a P/E ratio of -914.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.85 and a current ratio of 1.85. The business has a 50 day moving average price of $123.63 and a 200 day moving average price of $128.51. Baidu has a twelve month low of $84.64 and a twelve month high of $165.30.

Institutional Trading of Baidu

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC bought a new stake in Baidu in the first quarter valued at about $334,000. EverSource Wealth Advisors LLC lifted its stake in Baidu by 71.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $101,000 after purchasing an additional 493 shares during the period. Guggenheim Capital LLC boosted its holdings in Baidu by 53.3% during the second quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider’s stock valued at $829,000 after purchasing an additional 3,362 shares in the last quarter. First Trust Advisors LP boosted its holdings in Baidu by 2.6% during the second quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider’s stock valued at $4,291,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in shares of Baidu in the 2nd quarter valued at approximately $254,000.

Key Headlines Impacting Baidu

Here are the key news stories impacting Baidu this week:

• Positive Sentiment: Unusual options activity showed a notable increase in call buying, suggesting traders are positioning for a rebound or upside move in Baidu. Asian Equities Traded in the US as American Depositary Receipts Rise in Tuesday Trading
• Positive Sentiment: Bank of America kept a buy rating on Baidu even after trimming its price target to $165 from $180, which still implies meaningful upside from current levels. Baidu price target lowered by Bank of America
• Positive Sentiment: Brokerage coverage continues to lean constructive overall, with Baidu described as having an average rating of Moderate Buy. Baidu, Inc. Given Average Rating of Moderate Buy by Brokerages
• Neutral Sentiment: News that U.S. AI providers have been selling services to Singapore-based subsidiaries of Chinese tech groups including Baidu is potentially relevant, but the direct stock impact is unclear so far. OpenAI and Google sell AI models to blacklisted China groups
• Negative Sentiment: Baidu has been under pressure after a recent drop in the stock, reflecting weaker trader sentiment entering the session. Baidu Inc. Sees a More Significant Dip Than Broader Market: Some Facts to Know

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.