Baidu (NASDAQ:BIDU) Given New $115.00 Price Target at Mizuho

Baidu (NASDAQ:BIDU) had its price objective cut by Mizuho from $130.00 to $115.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

Several other brokerages have also weighed in on BIDU. Benchmark lowered their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Loop Capital lowered their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, August 26th. Jefferies Financial Group reduced their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Bank of America lowered their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, August 23rd. Finally, Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.29.

Baidu Price Performance

Shares of BIDU stock opened at $84.58 on Tuesday. The firm has a fifty day moving average of $93.53 and a two-hundred day moving average of $93.69. The firm has a market cap of $29.66 billion, a P/E ratio of 11.14 and a beta of 0.51. Baidu has a 1-year low of $79.68 and a 1-year high of $126.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA boosted its position in Baidu by 1.5% during the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after acquiring an additional 176,150 shares during the period. Sanders Capital LLC boosted its position in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after acquiring an additional 18,334 shares during the period. Federated Hermes Inc. boosted its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after acquiring an additional 67,331 shares during the period. Dimensional Fund Advisors LP boosted its position in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after acquiring an additional 14,878 shares during the period. Finally, CoreView Capital Management Ltd boosted its position in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock worth $130,221,000 after acquiring an additional 166,618 shares during the period.

Baidu Company Profile

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.