Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) dropped 3.5% during mid-day trading on Tuesday after Mizuho lowered their price target on the stock from $130.00 to $115.00. Mizuho currently has an outperform rating on the stock. Baidu traded as low as $84.86 and last traded at $85.22. Approximately 1,660,642 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 3,621,846 shares. The stock had previously closed at $88.28.
A number of other research analysts also recently issued reports on the stock. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Citigroup cut their price target on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Finally, Barclays cut their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.29.
Read Our Latest Report on Baidu
Institutional Trading of Baidu
Baidu Stock Down 3.9 %
The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a 50 day simple moving average of $93.44 and a two-hundred day simple moving average of $93.93. The company has a market capitalization of $29.74 billion, a PE ratio of 11.23 and a beta of 0.51.
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.
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