Baidu (NASDAQ:BIDU) Lowered to “Hold” at HSBC

HSBC lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research report released on Tuesday, Marketbeat reports. The brokerage currently has $100.00 price objective on the information services provider’s stock.

Other analysts have also recently issued reports about the company. Benchmark lowered their price objective on Baidu from $180.00 to $135.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their price objective on shares of Baidu from $174.00 to $139.00 and set a buy rating for the company in a research note on Thursday, August 22nd. Citigroup decreased their target price on shares of Baidu from $170.00 to $155.00 and set a buy rating on the stock in a research report on Monday, July 15th. StockNews.com lowered shares of Baidu from a buy rating to a hold rating in a research report on Tuesday, July 16th. Finally, Barclays decreased their price objective on Baidu from $125.00 to $115.00 and set an overweight rating on the stock in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $132.13.

Baidu Trading Up 7.4 %

Shares of BIDU opened at $94.81 on Tuesday. The stock’s 50-day moving average price is $86.20 and its 200 day moving average price is $95.12. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $33.25 billion, a price-to-earnings ratio of 12.69 and a beta of 0.48. Baidu has a 12-month low of $79.68 and a 12-month high of $136.53.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its stake in shares of Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after buying an additional 99 shares in the last quarter. Guinness Asset Management LTD increased its position in Baidu by 4.4% in the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after acquiring an additional 100 shares in the last quarter. Beacon Financial Group raised its stake in shares of Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after acquiring an additional 128 shares during the last quarter. Ignite Planners LLC lifted its position in shares of Baidu by 3.8% during the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after purchasing an additional 139 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Baidu by 9.0% during the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after purchasing an additional 171 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.