Citigroup Boosts Baidu (NASDAQ:BIDU) Price Target to $140.00

Baidu (NASDAQ:BIDU) had its price objective raised by Citigroup from $138.00 to $140.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Citigroup’s target price would indicate a potential upside of 59.44% from the company’s current price.

A number of other research firms also recently issued reports on BIDU. Jefferies Financial Group cut their price target on Baidu from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday. Macquarie reissued a “neutral” rating on shares of Baidu in a report on Wednesday, May 21st. Benchmark decreased their price objective on Baidu from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, May 22nd. Finally, Barclays set a $84.00 price objective on Baidu and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Baidu has a consensus rating of “Hold” and a consensus target price of $105.09.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $87.81 on Thursday. Baidu has a fifty-two week low of $74.71 and a fifty-two week high of $116.25. The business has a 50-day simple moving average of $86.71 and a two-hundred day simple moving average of $87.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a market cap of $30.33 billion, a price-to-earnings ratio of 8.71 and a beta of 0.33.

Hedge Funds Weigh In On Baidu

Several hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Baidu by 1,377.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider’s stock worth $490,035,000 after buying an additional 4,964,350 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Baidu in the second quarter valued at about $80,618,000. RPD Fund Management LLC purchased a new stake in Baidu in the fourth quarter valued at about $72,245,000. Massachusetts Financial Services Co. MA raised its stake in shares of Baidu by 319.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 807,322 shares of the information services provider’s stock worth $74,298,000 after purchasing an additional 615,061 shares during the last quarter. Finally, FIL Ltd raised its stake in shares of Baidu by 367.1% in the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock worth $50,579,000 after purchasing an additional 471,497 shares during 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.