Baidu (NASDAQ:BIDU) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note released on Thursday.

A number of other research firms also recently commented on BIDU. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Loop Capital decreased their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Finally, Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Hold” and a consensus price target of $113.75.

Baidu Trading Up 0.6 %

BIDU stock opened at $90.82 on Thursday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. The company has a market cap of $31.85 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.19 and a beta of 0.46. The business has a fifty day simple moving average of $90.51 and a 200-day simple moving average of $90.44. Baidu has a 52 week low of $78.95 and a 52 week high of $120.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. acquired a new position in Baidu in the second quarter worth about $52,000. Denver PWM LLC bought a new position in Baidu during the 2nd quarter worth approximately $67,000. Allspring Global Investments Holdings LLC grew its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Baidu in the 3rd quarter valued at approximately $72,000. Finally, Grove Bank & Trust raised its position in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in 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.