Baidu (NASDAQ:BIDU) Cut to “Equal Weight” at Barclays

Barclays downgraded shares of Baidu (NASDAQ:BIDU) from an overweight rating to an equal weight rating in a report published on Friday, Marketbeat reports.

Other analysts also recently issued reports about the company. Susquehanna decreased their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Bank of America decreased their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, September 24th. Jefferies Financial Group dropped 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, Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $119.36.

Baidu Stock Performance

Shares of BIDU stock opened at $80.33 on Friday. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 9.83 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $93.70 and its 200-day moving average price is $92.42. Baidu has a 12 month low of $78.95 and a 12 month high of $126.23.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Guinness Asset Management LTD raised its holdings in shares of Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after purchasing an additional 100 shares during the last quarter. Grove Bank & Trust grew its position in Baidu by 21.6% during 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 during the period. Advisors Asset Management Inc. raised its position in Baidu by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after acquiring an additional 140 shares during the period. Blue Trust Inc. raised its holdings in shares of Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after purchasing an additional 171 shares during the period. Finally, Intellectus Partners LLC raised its stake in shares of Baidu by 1.5% in the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock valued at $1,741,000 after buying an additional 250 shares during the period.

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.