Baidu (NASDAQ:BIDU) Downgraded by Barclays to “Equal Weight”

Baidu (NASDAQ:BIDU) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Friday, Marketbeat Ratings reports.

BIDU has been the topic of several other research reports. Bank of America dropped their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Susquehanna cut their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. Mizuho reduced their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $119.36.

Baidu Trading Down 1.6 %

NASDAQ:BIDU opened at $80.33 on Friday. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 9.83 and a beta of 0.51. Baidu has a 52 week low of $78.95 and a 52 week high of $126.23. 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 50 day moving average of $93.70 and a 200 day moving average of $92.54.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. purchased a new stake in Baidu during the 2nd quarter worth approximately $52,000. Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter worth $67,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust boosted its holdings in Baidu by 21.6% in the third 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 period. Finally, Transamerica Financial Advisors Inc. acquired a new position in Baidu during the 3rd quarter worth $82,000.

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.