Baidu (NASDAQ:BIDU) Shares Gap Down – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) gapped down prior to trading on Thursday . The stock had previously closed at $86.75, but opened at $82.65. Baidu shares last traded at $81.33, with a volume of 2,300,914 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on BIDU. Jefferies Financial Group reduced their target price 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. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Mizuho reduced their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $119.36.

Baidu Trading Down 1.6 %

The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 10.58 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 firm’s 50 day moving average is $93.70 and its 200 day moving average is $92.66.

Institutional Investors Weigh In On Baidu

Large investors have recently modified their holdings of the stock. Primecap Management Co. CA lifted its holdings in shares of Baidu by 1.5% during the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after purchasing an additional 176,150 shares during the last quarter. Sanders Capital LLC lifted its stake in Baidu by 0.7% during the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after buying an additional 18,334 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Baidu by 3.7% in the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after acquiring an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after acquiring an additional 14,878 shares in the last quarter. Finally, CoreView Capital Management Ltd lifted its position in shares of Baidu by 15.6% in the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after acquiring an additional 166,618 shares in 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.