Baidu (NASDAQ:BIDU) Price Target Raised to $100.00 at Barclays

Baidu (NASDAQ:BIDU) had its price objective raised by Barclays from $81.00 to $100.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the information services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Benchmark dropped their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, August 21st. Zacks Research raised shares of Baidu from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $91.00 to $176.00 in a research report on Friday, October 10th. Zephirin Group initiated coverage on Baidu in a research report on Monday, September 15th. They issued a “sell” rating and a $92.00 price objective on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $136.83.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $115.49 on Wednesday. The company has a 50 day moving average of $126.64 and a 200 day moving average of $102.08. The stock has a market cap of $39.90 billion, a P/E ratio of 10.64 and a beta of 0.43. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. Baidu has a 12 month low of $74.71 and a 12 month high of $149.51.

Hedge Funds Weigh In On Baidu

Hedge funds have recently bought and sold shares of the business. Woodline Partners LP bought a new stake in shares of Baidu in the third quarter worth approximately $3,686,000. Alyeska Investment Group L.P. purchased a new stake in Baidu in the third quarter worth about $24,702,000. Voloridge Investment Management LLC purchased a new position in Baidu during the third quarter valued at approximately $16,686,000. Westerly Capital Management LLC lifted its holdings in Baidu by 38.3% during the third quarter. Westerly Capital Management LLC now owns 83,000 shares of the information services provider’s stock valued at $10,937,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Steadfast Capital Management LP bought a new position in shares of Baidu in the third quarter worth approximately $59,966,000.

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.