Baidu (NASDAQ:BIDU) Price Target Cut to $130.00 by Analysts at Sanford C. Bernstein

Baidu (NASDAQ:BIDU) had its price objective trimmed by Sanford C. Bernstein from $135.00 to $130.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Other research analysts have also issued research reports about the stock. HSBC cut their price target on shares of Baidu from $157.00 to $145.00 and set a buy rating on the stock in a research note on Wednesday, April 24th. Jefferies Financial Group cut their price objective on shares of Baidu from $179.00 to $174.00 and set a buy rating on the stock in a research note on Monday, July 15th. Loop Capital cut their price objective on shares of Baidu from $155.00 to $130.00 and set a buy rating on the stock in a research note on Friday, June 21st. Macquarie lowered shares of Baidu from a strong-buy rating to a hold rating in a research note on Friday, May 17th. Finally, Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $144.07.

Baidu Trading Up 2.6 %

Shares of Baidu stock opened at $86.18 on Tuesday. The company has a current ratio of 2.79, a quick ratio of 2.79 and a debt-to-equity ratio of 0.25. Baidu has a 12-month low of $79.68 and a 12-month high of $151.00. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 11.54 and a beta of 0.49. The firm’s 50 day simple moving average is $89.70 and its two-hundred day simple moving average is $99.07.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Raymond James & Associates lifted its holdings in Baidu by 49.3% during the fourth quarter. Raymond James & Associates now owns 8,950 shares of the information services provider’s stock valued at $1,066,000 after purchasing an additional 2,954 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Baidu in the fourth quarter valued at about $12,225,000. Sequoia Financial Advisors LLC raised its position in shares of Baidu by 68.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 6,672 shares of the information services provider’s stock valued at $795,000 after buying an additional 2,705 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Baidu by 49.8% in the fourth quarter. Mackenzie Financial Corp now owns 3,844 shares of the information services provider’s stock valued at $458,000 after buying an additional 1,278 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Baidu by 14.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,560 shares of the information services provider’s stock valued at $186,000 after buying an additional 201 shares during the last quarter.

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.