Barclays Lowers Baidu (NASDAQ:BIDU) Price Target to $145.00

Baidu (NASDAQ:BIDU) had its target price lowered by Barclays from $160.00 to $145.00 in a report published on Friday morning, The Fly reports. The brokerage currently has an equal weight rating on the information services provider’s stock.

BIDU has been the topic of several other research reports. Oppenheimer set a $5.00 target price on shares of VolitionRX and gave the stock a buy rating in a report on Wednesday, April 10th. CLSA set a $138.00 target price on shares of Baidu and gave the stock a buy rating in a report on Monday, July 8th. Credit Suisse Group set a $221.00 target price on shares of Baidu and gave the stock a buy rating in a report on Wednesday, April 10th. UBS Group restated a hold rating and issued a $145.00 target price on shares of Baidu in a report on Friday, July 5th. Finally, China Renaissance Securities restated a hold rating on shares of Baidu in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $178.17.

Shares of BIDU opened at $115.63 on Friday. The company has a 50 day moving average of $114.25. The stock has a market capitalization of $40.14 billion, a P/E ratio of 18.38, a P/E/G ratio of 6.19 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.76 and a quick ratio of 2.76. Baidu has a 1-year low of $106.80 and a 1-year high of $271.08.

Baidu declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 16th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the information services provider to reacquire up to 1.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in BIDU. Norges Bank purchased a new position in Baidu during the fourth quarter valued at $526,416,000. Harris Associates L P lifted its position in Baidu by 49.6% during the fourth quarter. Harris Associates L P now owns 3,155,245 shares of the information services provider’s stock valued at $500,422,000 after buying an additional 1,046,123 shares during the period. BlackRock Inc. lifted its position in Baidu by 4.3% during the first quarter. BlackRock Inc. now owns 15,784,632 shares of the information services provider’s stock valued at $2,602,096,000 after buying an additional 653,684 shares during the period. Bank of Montreal Can lifted its position in Baidu by 219.8% during the first quarter. Bank of Montreal Can now owns 792,685 shares of the information services provider’s stock valued at $130,674,000 after buying an additional 544,799 shares during the period. Finally, Deutsche Bank AG raised its position in shares of Baidu by 26.7% in the 4th quarter. Deutsche Bank AG now owns 1,730,920 shares of the information services provider’s stock worth $274,519,000 after purchasing an additional 364,545 shares during the last quarter. 59.32% of the stock is owned by institutional investors and hedge funds.

About Baidu

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

Further Reading: Net Margin

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