Baidu (NASDAQ:BIDU) had its price target hoisted by equities researchers at Citigroup from $183.00 to $292.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has a "buy" rating on the information services provider's stock. Citigroup's price target would suggest a potential upside of 16.03% from the stock's previous close.
A number of other equities research analysts also recently issued reports on BIDU. Zacks Investment Research upgraded shares of Baidu from a "hold" rating to a "strong-buy" rating and set a $157.00 target price for the company in a research report on Friday, November 20th. JPMorgan Chase & Co. increased their target price on shares of Baidu from $155.00 to $290.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 13th. The Goldman Sachs Group increased their target price on shares of Baidu from $144.00 to $162.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. Loop Capital increased their target price on shares of Baidu from $150.00 to $210.00 in a research report on Wednesday, December 23rd. Finally, Mizuho increased their price target on shares of Baidu from $185.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, January 8th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Baidu presently has a consensus rating of "Buy" and an average target price of $185.66.
BIDU stock traded up $12.78 during midday trading on Tuesday, reaching $251.65. The company had a trading volume of 271,318 shares, compared to its average volume of 10,667,292. Baidu has a 1 year low of $82.00 and a 1 year high of $258.73. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $87.03 billion, a P/E ratio of 24.03 and a beta of 1.16. The company has a 50 day moving average of $187.00 and a two-hundred day moving average of $142.58.
Baidu announced that its board has authorized a stock repurchase plan on Tuesday, December 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Several large investors have recently modified their holdings of BIDU. Acadian Asset Management LLC grew its position in shares of Baidu by 31.7% during the 3rd quarter. Acadian Asset Management LLC now owns 3,193,827 shares of the information services provider's stock worth $404,309,000 after buying an additional 768,315 shares during the period. LSV Asset Management grew its position in shares of Baidu by 88.8% during the 3rd quarter. LSV Asset Management now owns 1,448,478 shares of the information services provider's stock worth $183,362,000 after buying an additional 681,433 shares during the period. ARGA Investment Management LP grew its position in shares of Baidu by 79.6% during the 3rd quarter. ARGA Investment Management LP now owns 1,297,964 shares of the information services provider's stock worth $164,309,000 after buying an additional 575,332 shares during the period. Morgan Stanley grew its position in shares of Baidu by 26.8% during the 3rd quarter. Morgan Stanley now owns 2,372,661 shares of the information services provider's stock worth $300,355,000 after buying an additional 500,886 shares during the period. Finally, Black Creek Investment Management Inc. grew its position in shares of Baidu by 24.9% during the 3rd quarter. Black Creek Investment Management Inc. now owns 2,202,101 shares of the information services provider's stock worth $278,764,000 after buying an additional 439,463 shares during the period. Institutional investors own 49.38% 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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