Baidu (NASDAQ:BIDU) Rating Lowered to Hold at StockNews.com

Baidu (NASDAQ:BIDU) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

BIDU has been the subject of a number of other reports. Benchmark cut their price target on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Finally, Mizuho reduced their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Stock Down 0.6 %

BIDU stock opened at $85.98 on Wednesday. The stock has a market capitalization of $30.15 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The company has a 50-day moving average of $93.36 and a two-hundred day moving average of $91.14. Baidu has a 52-week low of $78.95 and a 52-week high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently added to or reduced their stakes in BIDU. iA Global Asset Management Inc. bought a new position in shares of Baidu in the second quarter valued at approximately $52,000. Denver PWM LLC bought a new position in Baidu in the 2nd quarter valued at $67,000. Allspring Global Investments Holdings LLC boosted its stake in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu during the third quarter worth $72,000. Finally, Grove Bank & Trust increased its stake in shares of 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 buying an additional 130 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.