Baidu (NASDAQ:BIDU) Price Target Raised to $223.00 at Citigroup

Baidu (NASDAQ:BIDU – Get Rating) had its price target boosted by Citigroup from $221.00 to $223.00 in a research report sent to investors on Friday, The Fly reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other brokerages also recently issued reports on BIDU. Sanford C. Bernstein began coverage on Baidu in a research report on Thursday, May 5th. They set a market perform rating and a $138.00 price target on the stock. StockNews.com began coverage on Baidu in a research report on Thursday, March 31st. They set a hold rating on the stock. Jefferies Financial Group reduced their price target on Baidu from $272.00 to $270.00 in a research report on Thursday, April 7th. The Goldman Sachs Group began coverage on Baidu in a research report on Sunday, April 10th. They set a buy rating and a $240.00 price target on the stock. Finally, Zacks Investment Research downgraded Baidu from a hold rating to a strong sell rating in a research report on Tuesday, March 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $237.35.

Baidu stock opened at $139.09 on Friday. Baidu has a 12 month low of $101.62 and a 12 month high of $209.17. The stock’s 50 day moving average is $128.96 and its 200-day moving average is $143.22. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $48.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 13.56 and a beta of 0.90.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of Baidu by 22.8% in the 4th quarter. Lindbrook Capital LLC now owns 409 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 76 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in shares of Baidu by 4.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 1,767 shares of the information services provider’s stock valued at $263,000 after acquiring an additional 76 shares during the last quarter. Beacon Financial Group raised its position in Baidu by 3.7% during the 4th quarter. Beacon Financial Group now owns 2,299 shares of the information services provider’s stock worth $343,000 after purchasing an additional 82 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in Baidu by 60.3% during the 4th quarter. Koshinski Asset Management Inc. now owns 234 shares of the information services provider’s stock worth $35,000 after buying an additional 88 shares during the period. Finally, United Capital Financial Advisers LLC grew its position in shares of Baidu by 2.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 3,471 shares of the information services provider’s stock valued at $459,000 after buying an additional 88 shares during the last quarter. Institutional investors own 71.75% of the company’s stock.

About Baidu (Get Rating)

Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.

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