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

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

Several other research firms have also recently commented on BIDU. Jefferies Financial Group reduced their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Benchmark cut their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Bank of America cut their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Trading Down 0.5 %

NASDAQ BIDU opened at $89.48 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm’s fifty day moving average price is $92.19 and its 200 day moving average price is $94.65. The company has a market capitalization of $31.38 billion, a price-to-earnings ratio of 11.98 and a beta of 0.49. Baidu has a 12 month low of $79.68 and a 12 month high of $126.23.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its position in Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after purchasing an additional 50,599 shares during the last quarter. SRN Advisors LLC raised its stake in shares of Baidu by 111.5% during the 1st 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 raised its stake in shares of Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after purchasing an additional 15,000 shares during the period. Bryn Mawr Capital Management LLC bought a new position in Baidu in the 1st quarter worth about $216,000. Finally, Clear Harbor Asset Management LLC increased its stake in Baidu by 126.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock worth $970,000 after acquiring an additional 6,261 shares during 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.