Baidu (NASDAQ:BIDU) Price Target Cut to $170.00 by Analysts at Mizuho

Baidu (NASDAQ:BIDU – Get Rating) had its price target decreased by Mizuho from $190.00 to $170.00 in a report released on Tuesday, The Fly reports.

Other equities analysts have also issued reports about the company. Jefferies Financial Group decreased their target price on Baidu from $217.00 to $210.00 and set a buy rating on the stock in a research note on Tuesday, January 17th. Barclays raised their price target on Baidu from $139.00 to $181.00 and gave the stock an overweight rating in a research report on Thursday, February 23rd. Daiwa Capital Markets lifted their price objective on Baidu from $200.00 to $215.00 in a research report on Monday, April 3rd. UBS Group cut their price objective on Baidu from $185.00 to $180.00 and set a buy rating on the stock in a research report on Friday, April 21st. Finally, StockNews.com cut Baidu from a buy rating to a hold rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $184.82.

Baidu Trading Down 2.5 %

Shares of BIDU stock opened at $119.48 on Tuesday. The stock has a 50 day simple moving average of $137.08 and a two-hundred day simple moving average of $124.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.67 and a current ratio of 2.67. Baidu has a fifty-two week low of $73.58 and a fifty-two week high of $160.88. The company has a market cap of $41.29 billion, a P/E ratio of 41.34, a PEG ratio of 0.77 and a beta of 0.67.

Baidu announced that its Board of Directors has approved a stock buyback program on Wednesday, February 22nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Baidu

Large investors have recently modified their holdings of the company. ARGA Investment Management LP grew its holdings in Baidu by 11.0% during the fourth quarter. ARGA Investment Management LP now owns 3,415,956 shares of the information services provider’s stock valued at $390,252,000 after purchasing an additional 337,153 shares during the period. Ariel Investments LLC grew its holdings in Baidu by 9.7% during the fourth quarter. Ariel Investments LLC now owns 2,852,898 shares of the information services provider’s stock valued at $326,314,000 after purchasing an additional 251,451 shares during the period. Morgan Stanley boosted its stake in shares of Baidu by 88.2% in the fourth quarter. Morgan Stanley now owns 2,631,331 shares of the information services provider’s stock worth $300,972,000 after acquiring an additional 1,232,917 shares during the period. Alkeon Capital Management LLC boosted its stake in shares of Baidu by 28.2% in the fourth quarter. Alkeon Capital Management LLC now owns 2,526,264 shares of the information services provider’s stock worth $288,954,000 after acquiring an additional 555,221 shares during the period. Finally, Axiom Investors LLC DE boosted its stake in shares of Baidu by 66.6% in the fourth quarter. Axiom Investors LLC DE now owns 2,468,502 shares of the information services provider’s stock worth $282,347,000 after acquiring an additional 986,939 shares during the period. Institutional investors own 23.06% of the company’s stock.

About Baidu

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.