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

StockNews.com lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note published on Friday morning.

Other equities research analysts have also issued research reports about the company. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Barclays reduced their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Citigroup cut their price target on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Hsbc Global Res downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $128.36.

Baidu Stock Up 0.3 %

Baidu stock opened at $89.79 on Friday. The stock has a market cap of $31.48 billion, a PE ratio of 12.02 and a beta of 0.49. 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 stock’s fifty day moving average is $92.27 and its two-hundred day moving average is $94.41. Baidu has a 1-year low of $79.68 and a 1-year high of $126.23.

Institutional Trading of Baidu

Hedge funds have recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in shares of Baidu during the first quarter worth approximately $31,000. iA Global Asset Management Inc. acquired a new position in Baidu in the 2nd quarter valued at $52,000. Denver PWM LLC purchased a new position in Baidu during the 2nd quarter worth $67,000. Allspring Global Investments Holdings LLC lifted its stake 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 during the period. Finally, Grove Bank & Trust boosted its holdings 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 acquiring 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.