Citigroup Issues Positive Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU - Get Free Report) had its price target raised by equities research analysts at Citigroup from $138.00 to $140.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Citigroup's price objective suggests a potential upside of 59.98% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Benchmark cut their target price on shares of Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Barclays set a $84.00 target price on shares of Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group cut their target price on shares of Baidu from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Baidu has an average rating of "Hold" and an average price target of $105.36.

Baidu Stock Up 1.4%

Baidu stock traded up $1.19 during mid-day trading on Thursday, hitting $87.51. 4,317,468 shares of the company's stock were exchanged, compared to its average volume of 4,019,081. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.27. The stock has a market cap of $30.23 billion, a P/E ratio of 8.68 and a beta of 0.33. Baidu has a 1-year low of $74.71 and a 1-year high of $116.25. The stock has a 50 day moving average of $86.69 and a two-hundred day moving average of $87.68.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of Baidu by 0.7% during the 1st quarter. International Assets Investment Management LLC now owns 16,100 shares of the information services provider's stock worth $1,482,000 after purchasing an additional 114 shares during the last quarter. Parallel Advisors LLC grew its stake in Baidu by 17.0% in the 2nd quarter. Parallel Advisors LLC now owns 935 shares of the information services provider's stock valued at $80,000 after buying an additional 136 shares during the last quarter. UMB Bank n.a. grew its stake in Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock valued at $37,000 after buying an additional 179 shares during the last quarter. CX Institutional grew its stake in Baidu by 34.1% in the 2nd quarter. CX Institutional now owns 715 shares of the information services provider's stock valued at $61,000 after buying an additional 182 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Baidu by 143.3% in the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider's stock valued at $30,000 after buying an additional 192 shares during the last quarter.

Baidu Company Profile

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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