Baidu (NASDAQ:BIDU) Stock Price Expected to Rise, Citigroup Analyst Says

Baidu (NASDAQ:BIDU - Free Report) had its price objective boosted by Citigroup from $138.00 to $140.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the information services provider's stock.

Other analysts have also recently issued reports about the stock. Jefferies Financial Group cut their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Macquarie reiterated a "neutral" rating on shares of Baidu in a research report on Wednesday, May 21st. Benchmark cut their price objective on Baidu from $130.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Finally, Barclays set a $84.00 price objective on shares of Baidu and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $105.09.

Baidu Stock Up 1.5%

Shares of NASDAQ BIDU traded up $1.34 during trading on Thursday, reaching $89.15. 3,446,101 shares of the stock were exchanged, compared to its average volume of 4,031,422. The business's 50-day moving average price is $86.71 and its 200 day moving average price is $87.79. Baidu has a twelve month low of $74.71 and a twelve month high of $116.25. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $30.80 billion, a price-to-earnings ratio of 8.85 and a beta of 0.33.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently added to or reduced their stakes in BIDU. Creekmur Asset Management LLC bought a new position in shares of Baidu in the 1st quarter worth $29,000. Assetmark Inc. boosted its position in shares of 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 purchasing an additional 192 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider's stock worth $37,000 after purchasing an additional 179 shares during the last quarter. CX Institutional bought a new position in shares of Baidu in the 1st quarter worth $49,000. Finally, GeoWealth Management LLC boosted its position in shares of Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock worth $55,000 after purchasing an additional 308 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.