Baidu (NASDAQ:BIDU) had its target price reduced by Barclays from $160.00 to $145.00 in a report issued on Friday, The Fly reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Barclays‘s price target would suggest a potential upside of 26.20% from the company’s current price.
A number of other analysts have also issued reports on the company. Morgan Stanley set a $196.00 target price on Alibaba Group and gave the company a “buy” rating in a report on Tuesday, March 26th. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. KeyCorp increased their target price on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Credit Suisse Group set a $221.00 target price on Baidu and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $178.17.
Shares of NASDAQ:BIDU opened at $114.90 on Friday. The firm’s fifty day moving average is $114.22. The firm has a market cap of $40.14 billion, a P/E ratio of 18.38, a PEG ratio of 6.19 and a beta of 1.64. Baidu has a one year low of $106.80 and a one year high of $274.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76.
Baidu announced that its Board of Directors has initiated a stock buyback program on Thursday, May 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to purchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
Several large investors have recently made changes to their positions in BIDU. Comerica Securities Inc. raised its holdings in shares of Baidu by 20.6% during the fourth quarter. Comerica Securities Inc. now owns 2,888 shares of the information services provider’s stock worth $458,000 after acquiring an additional 493 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Baidu by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 628,173 shares of the information services provider’s stock worth $99,782,000 after acquiring an additional 12,720 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Baidu by 16.3% during the fourth quarter. Stifel Financial Corp now owns 21,926 shares of the information services provider’s stock worth $3,465,000 after acquiring an additional 3,070 shares in the last quarter. American International Group Inc. raised its holdings in shares of Baidu by 4.0% during the fourth quarter. American International Group Inc. now owns 21,699 shares of the information services provider’s stock worth $3,441,000 after acquiring an additional 827 shares in the last quarter. Finally, Semmax Financial Advisors Inc. purchased a new stake in shares of Baidu during the fourth quarter worth $33,000. Institutional investors and hedge funds own 59.51% of the company’s stock.
Baidu Company Profile
Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.
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