Susquehanna Cuts Baidu (NASDAQ:BIDU) Price Target to $105.00

Baidu (NASDAQ:BIDU) had its price objective cut by Susquehanna from $140.00 to $105.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Benchmark cut their target price on Baidu from $215.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. Nomura increased their price target on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Barclays dropped their price target on Baidu from $124.00 to $96.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Morgan Stanley downgraded Baidu from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $130.00 to $80.00 in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and a consensus price target of $154.89.

Baidu Stock Performance

Shares of BIDU stock opened at $97.12 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.33 and a current ratio of 2.33. The company has a market capitalization of $33.05 billion, a price-to-earnings ratio of -46.03, a PEG ratio of 4.29 and a beta of 0.58. Baidu has a 52-week low of $89.60 and a 52-week high of $165.30. The company has a 50-day simple moving average of $106.91 and a two-hundred day simple moving average of $118.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its holdings in shares of Baidu by 38.0% in the 4th quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after purchasing an additional 745,588 shares during the period. RPD Fund Management LLC grew its holdings in Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock valued at $107,959,000 after purchasing an additional 777,570 shares during the period. Alyeska Investment Group L.P. grew its holdings in Baidu by 307.9% during the second quarter. Alyeska Investment Group L.P. now owns 1,209,089 shares of the information services provider’s stock valued at $138,187,000 after purchasing an additional 912,638 shares during the period. Capital World Investors increased its position in Baidu by 21.0% in the fourth quarter. Capital World Investors now owns 1,182,857 shares of the information services provider’s stock worth $154,552,000 after buying an additional 205,040 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in Baidu by 127.8% in the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after buying an additional 649,490 shares during the last quarter.

About Baidu

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.