Benchmark Trims Baidu (NASDAQ:BIDU) Target Price to $135.00

Baidu (NASDAQ:BIDU) had its price objective lowered by Benchmark from $180.00 to $135.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

Other research analysts also recently issued research reports about the stock. Citigroup lowered their price target on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a report on Monday, July 15th. HSBC lowered their price target on shares of Baidu from $157.00 to $145.00 and set a buy rating for the company in a report on Wednesday, April 24th. Barclays lowered their price target on shares of Baidu from $133.00 to $125.00 and set an overweight rating for the company in a report on Wednesday, July 17th. Macquarie downgraded shares of Baidu from a strong-buy rating to a hold rating in a report on Friday, May 17th. Finally, Morgan Stanley downgraded shares of Baidu from an overweight rating to an equal weight rating and decreased their price objective for the stock from $140.00 to $125.00 in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $146.60.

Baidu Stock Down 2.2 %

Shares of NASDAQ:BIDU opened at $84.49 on Wednesday. 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 $82.91 and a 12 month high of $151.55. The company has a 50-day moving average price of $92.10 and a 200 day moving average price of $100.37. The company has a market cap of $29.63 billion, a price-to-earnings ratio of 11.31 and a beta of 0.49.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently modified their holdings of BIDU. Crewe Advisors LLC purchased a new position in shares of Baidu during the first quarter worth approximately $31,000. Newbridge Financial Services Group Inc. purchased a new position in Baidu during the first quarter valued at approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Baidu during the fourth quarter valued at approximately $48,000. iA Global Asset Management Inc. purchased a new position in Baidu during the second quarter valued at approximately $52,000. Finally, Silicon Valley Capital Partners purchased a new position in Baidu during the first quarter valued at approximately $53,000.

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.