Baidu (NASDAQ:BIDU) Given New $141.00 Price Target at Citigroup

Baidu (NASDAQ:BIDU) had its target price reduced by stock analysts at Citigroup from $142.00 to $141.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Citigroup’s price target suggests a potential upside of 66.51% from the stock’s previous close.

BIDU has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $85.00 in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.75.

Baidu Stock Down 0.2 %

Shares of BIDU traded down $0.14 during mid-day trading on Friday, hitting $84.68. 1,074,570 shares of the company’s stock were exchanged, compared to its average volume of 3,622,943. The stock’s 50-day moving average is $93.59 and its 200-day moving average is $91.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $120.25. The company has a market cap of $29.69 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 1.11 and a beta of 0.51.

Hedge Funds Weigh In On Baidu

A number of large investors have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in shares of Baidu during the third quarter worth about $72,000. Coldstream Capital Management Inc. acquired a new position in Baidu during the 3rd quarter worth approximately $653,000. Public Employees Retirement System of Ohio purchased a new position in shares of Baidu during the 3rd quarter worth approximately $5,009,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Baidu in the third quarter valued at approximately $3,660,000. Finally, MML Investors Services LLC grew its holdings in Baidu by 453.5% during the third quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock worth $1,461,000 after acquiring an additional 11,370 shares during the period.

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.