Baidu (NASDAQ:BIDU) Given New $120.00 Price Target at Benchmark

Baidu (NASDAQ:BIDU - Get Free Report) had its target price decreased by stock analysts at Benchmark from $130.00 to $120.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the information services provider's stock. Benchmark's price objective points to a potential upside of 42.73% from the company's current price.

Several other research firms have also recently weighed in on BIDU. Nomura cut shares of Baidu from a "buy" rating to a "neutral" rating in a report on Wednesday, February 19th. Mizuho upped their target price on Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a report on Saturday, March 8th. Daiwa Capital Markets reissued an "outperform" rating on shares of Baidu in a report on Tuesday, February 18th. Finally, Barclays lowered their target price on shares of Baidu from $95.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Baidu presently has a consensus rating of "Hold" and an average price target of $108.64.

Baidu Stock Performance

Baidu stock opened at $84.08 on Thursday. Baidu has a 1-year low of $74.71 and a 1-year high of $116.25. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $29.04 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 2.96 and a beta of 0.37. The firm's 50 day simple moving average is $88.70 and its 200 day simple moving average is $87.96.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently bought and sold shares of BIDU. Creekmur Asset Management LLC purchased a new stake in shares of Baidu during the first quarter valued at approximately $29,000. Assetmark Inc. grew its holdings in Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock worth $30,000 after acquiring an additional 192 shares during the last quarter. UMB Bank n.a. increased its position in shares of Baidu by 80.3% in the first quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after acquiring an additional 179 shares during the period. Rialto Wealth Management LLC purchased a new position in shares of Baidu in the fourth quarter valued at about $42,000. Finally, CX Institutional bought a new position in shares of Baidu during the first quarter valued at about $49,000.

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.

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