Baidu (NASDAQ:BIDU) Downgraded to Hold Rating by China Renaissance

China Renaissance downgraded shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note published on Monday morning, Marketbeat.com reports. They currently have $86.00 price objective on the information services provider’s stock.

Several other research firms have also commented on BIDU. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $85.00 in a report on Monday. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, September 24th. Benchmark decreased their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. Finally, Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Stock Up 2.9 %

Shares of NASDAQ BIDU opened at $82.67 on Monday. The firm has a market cap of $28.99 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 1 year low of $78.95 and a 1 year high of $126.23. The firm’s 50 day moving average price is $93.67 and its 200 day moving average price is $92.22.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently modified their holdings of the stock. iA Global Asset Management Inc. acquired a new stake in Baidu in the second quarter valued at approximately $52,000. Denver PWM LLC acquired a new stake in Baidu during the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC grew its holdings in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares in the last quarter. World Investment Advisors LLC acquired a new position in Baidu in the 3rd quarter worth $72,000. Finally, Grove Bank & Trust boosted its position in 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 buying an additional 130 shares during the last quarter.

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.