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

Key Points

• Susquehanna lowered Baidu’s price target from $140 to $105 while maintaining a “neutral” rating, implying approximately 8.35% upside from the reported $96.91 share price.
• Analyst views remain mixed, but Baidu holds a consensus “Moderate Buy” rating with an average price target of $154.89; recent targets range from $96 at Barclays to $190 at Nomura.
• Baidu shares are near the lower end of their 52-week range, trading at $96.91 versus a $89.60 low and $165.30 high, while several institutional investors increased or initiated positions during the second quarter.

Baidu (NASDAQ:BIDU - Get Free Report) had its price target lowered by Susquehanna from $140.00 to $105.00 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the information services provider's stock. Susquehanna's price target would indicate a potential upside of 8.35% from the company's current price.

A number of other equities analysts have also weighed in on the stock. Benchmark lowered their price objective on shares of Baidu from $215.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, August 19th. Barclays cut their price target on shares of Baidu from $124.00 to $96.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of Baidu from a "sell" rating to a "hold" rating in a research report on Monday, May 25th. Nomura lifted their price objective on Baidu from $186.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, Citigroup reissued a "buy" rating on shares of Baidu in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.89.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded down $0.03 during trading on Friday, reaching $96.91. The company had a trading volume of 665,395 shares, compared to its average volume of 2,636,841. Baidu has a fifty-two week low of $89.60 and a fifty-two week high of $165.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 2.33. The stock's fifty day moving average price is $107.20 and its 200 day moving average price is $119.04. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of -45.93, a price-to-earnings-growth ratio of 4.12 and a beta of 0.58.

Institutional Trading of Baidu

A number of institutional investors have recently bought and sold shares of the company. Corient Private Wealth LP raised its stake in shares of Baidu by 9.9% during the 2nd quarter. Corient Private Wealth LP now owns 6,101 shares of the information services provider's stock worth $697,000 after buying an additional 550 shares during the last quarter. Amundi boosted its position in shares of Baidu by 16.3% in the 2nd quarter. Amundi now owns 92,993 shares of the information services provider's stock worth $10,628,000 after buying an additional 13,015 shares in the last quarter. Nykredit A S acquired a new stake in Baidu in the 2nd quarter valued at about $28,089,000. NS Partners Ltd acquired a new stake in Baidu in the 2nd quarter valued at about $1,189,000. Finally, Alyeska Investment Group L.P. increased its holdings in Baidu by 307.9% during the 2nd 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 acquiring an additional 912,638 shares in 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.

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