Baidu (NASDAQ:BIDU) Cut to Neutral at Susquehanna

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

A number of other brokerages have also weighed in on BIDU. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. 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 report on Monday, August 26th. Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Bank of America dropped their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Price Performance

BIDU stock opened at $84.82 on Monday. The firm has a market capitalization of $29.74 billion, a P/E ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. 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 fifty day simple moving average of $93.64 and a two-hundred day simple moving average of $91.99. Baidu has a 52 week low of $78.95 and a 52 week high of $123.74.

Institutional Investors Weigh In On Baidu

Institutional investors have recently modified their holdings of the business. iA Global Asset Management Inc. acquired a new position in Baidu during the second quarter valued at approximately $52,000. Denver PWM LLC bought a new position in shares of Baidu during the second quarter valued at $67,000. Allspring Global Investments Holdings LLC increased its position in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the period. World Investment Advisors LLC acquired a new position in shares of Baidu during the 3rd quarter valued at $72,000. Finally, Grove Bank & Trust grew its position in Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 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.