Baidu (NASDAQ:BIDU) Given New $130.00 Price Target at Benchmark

Baidu (NASDAQ:BIDU) had its target price dropped by Benchmark from $135.00 to $130.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Benchmark’s price target would suggest a potential upside of 63.01% from the company’s current price.

Other analysts have also issued research reports about the company. Bank of America decreased their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Loop Capital dropped their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Finally, Mizuho decreased their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.93.

Baidu Price Performance

Shares of NASDAQ BIDU traded down $1.88 during midday trading on Friday, reaching $79.75. The company’s stock had a trading volume of 1,386,131 shares, compared to its average volume of 3,614,855. The company has a 50 day moving average price of $93.77 and a 200 day moving average price of $92.89. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 10.55 and a beta of 0.51. Baidu has a one year low of $79.03 and a one year high of $126.23. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Trading of Baidu

Institutional investors and hedge funds have recently bought and sold shares of the business. SRN Advisors LLC boosted its holdings in shares of Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after acquiring an additional 8,272 shares during the period. Handelsbanken Fonder AB grew its holdings in Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of Baidu by 82.9% during the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock worth $2,159,000 after purchasing an additional 9,292 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Baidu during the second quarter worth $606,000. Finally, Swedbank AB bought a new position in Baidu in the first quarter worth about $4,351,000.

About Baidu

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. 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; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.