Baidu (NASDAQ:BIDU) Price Target Raised to $223.00 at Citigroup

Baidu (NASDAQ:BIDUGet Rating) had its price objective upped by Citigroup from $221.00 to $223.00 in a report issued on Friday morning, The Fly reports. They currently have a buy rating on the information services provider’s stock.

Several other equities analysts have also recently weighed in on the company. HSBC dropped their price objective on Baidu from $195.00 to $180.00 and set a buy rating on the stock in a research note on Friday, April 8th. StockNews.com began coverage on shares of Baidu in a research report on Thursday, March 31st. They set a hold rating on the stock. Sanford C. Bernstein began coverage on shares of Baidu in a research report on Thursday, May 5th. They issued a market perform rating and a $138.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Baidu in a research note on Sunday, April 10th. They issued a buy rating and a $240.00 price objective for the company. Finally, Susquehanna boosted their target price on Baidu from $175.00 to $200.00 and gave the stock a positive rating in a research note on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Baidu presently has a consensus rating of Buy and a consensus target price of $237.35.

BIDU stock opened at $139.09 on Friday. The firm has a market capitalization of $48.06 billion, a PE ratio of 32.88, a P/E/G ratio of 13.56 and a beta of 0.90. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. Baidu has a twelve month low of $101.62 and a twelve month high of $209.17. The stock’s 50 day moving average is $128.96 and its 200-day moving average is $143.22.

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its stake in shares of Baidu by 49.7% in the third quarter. Squarepoint Ops LLC now owns 9,542 shares of the information services provider’s stock valued at $1,467,000 after buying an additional 3,166 shares during the period. American Century Companies Inc. raised its stake in shares of Baidu by 6.4% in the fourth quarter. American Century Companies Inc. now owns 41,508 shares of the information services provider’s stock valued at $6,176,000 after buying an additional 2,494 shares during the period. Brinker Capital Investments LLC bought a new stake in shares of Baidu in the fourth quarter valued at $964,000. Tiger Pacific Capital LP raised its stake in shares of Baidu by 59.7% in the third quarter. Tiger Pacific Capital LP now owns 184,174 shares of the information services provider’s stock valued at $28,317,000 after buying an additional 68,822 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Baidu by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 491,996 shares of the information services provider’s stock valued at $73,750,000 after purchasing an additional 9,885 shares in the last quarter. Hedge funds and other institutional investors own 71.75% of the company’s stock.

About Baidu (Get Rating)

Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.

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