Baidu (NASDAQ:BIDU) Lowered to Neutral Rating by Susquehanna

Susquehanna lowered shares of Baidu (NASDAQ:BIDU) from a positive rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm currently has $85.00 price objective on the information services provider’s stock, down from their prior price objective of $105.00.

Several other research analysts also recently issued reports on BIDU. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Benchmark dropped their price target on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Bank of America decreased their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, August 23rd. Mizuho lowered 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. Finally, Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Ten equities research 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, Baidu has an average rating of “Hold” and a consensus price target of $114.92.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $84.82 on Monday. The company has a 50-day moving average price of $93.64 and a 200-day moving average price of $91.99. The company has a market cap of $29.74 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 12 month low of $78.95 and a 12 month high of $123.74.

Institutional Trading of Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Baidu during the 3rd quarter worth $1,054,000. SRN Advisors LLC increased its holdings in shares of Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after purchasing an additional 8,272 shares during the period. Handelsbanken Fonder AB lifted its position in Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after purchasing an additional 15,000 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in Baidu by 82.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after acquiring an additional 9,292 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Baidu during the 2nd quarter worth $606,000.

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.