Baidu (NASDAQ:BIDU) Trading Down 0.2% Following Analyst Downgrade

Baidu, Inc. (NASDAQ:BIDU) fell 0.2% during mid-day trading on Wednesday 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 $84.23 and last traded at $84.64. 727,461 shares traded hands during trading, a decline of 80% from the average session volume of 3,621,052 shares. The stock had previously closed at $84.80.

Other analysts have also issued research reports about the stock. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Citigroup cut their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Susquehanna lowered their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Guinness Asset Management LTD boosted its holdings in Baidu by 4.4% in the second 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 during the last quarter. Grove Bank & Trust boosted its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. grew its position in shares of Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after buying an additional 171 shares during the period. Finally, Intellectus Partners LLC raised its stake in shares of Baidu by 1.5% during the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after buying an additional 250 shares during the last quarter.

Baidu Price Performance

The firm has a market capitalization of $29.47 billion, a price-to-earnings ratio of 11.01 and a beta of 0.51. 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 company’s fifty day moving average is $93.51 and its two-hundred day moving average is $93.75.

Baidu Company Profile

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.