Baidu (NASDAQ:BIDU – Free Report) had its price target cut by Benchmark from $210.00 to $180.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.
A number of other analysts have also weighed in on BIDU. Barclays cut their price objective on Baidu from $138.00 to $133.00 and set an overweight rating on the stock in a research report on Thursday, February 29th. StockNews.com lowered Baidu from a buy rating to a hold rating in a research report on Saturday, March 23rd. HSBC lowered their price objective on Baidu from $157.00 to $145.00 and set a buy rating for the company in a research report on Wednesday, April 24th. Finally, Citigroup reduced their target price on shares of Baidu from $181.00 to $176.00 and set a buy rating on the stock in a report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $169.50.
Baidu Trading Down 0.1 %
Institutional Investors Weigh In On Baidu
A number of hedge funds have recently added to or reduced their stakes in the company. Black Creek Investment Management Inc. increased its position in Baidu by 3.1% during the 3rd quarter. Black Creek Investment Management Inc. now owns 2,089,303 shares of the information services provider’s stock worth $280,698,000 after purchasing an additional 63,239 shares during the period. Federated Hermes Inc. grew its holdings in Baidu by 15.3% during the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after acquiring an additional 238,374 shares during the period. ANTIPODES PARTNERS Ltd raised its position in Baidu by 8.8% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after acquiring an additional 116,047 shares in the last quarter. Invesco Ltd. lifted its holdings in Baidu by 6.4% in the third quarter. Invesco Ltd. now owns 1,301,583 shares of the information services provider’s stock valued at $174,868,000 after acquiring an additional 78,331 shares during the period. Finally, RWC Asset Advisors US LLC boosted its position in shares of Baidu by 5.3% during the 4th quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after purchasing an additional 58,686 shares in the last quarter.
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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