Baidu (NASDAQ:BIDU) Trading Down 0.2% After Analyst Downgrade

Baidu, Inc. (NASDAQ:BIDU)’s share price was down 0.2% during trading on Wednesday after Mizuho lowered their price target on the stock from $130.00 to $115.00. Mizuho currently has an outperform rating on the stock. Baidu traded as low as $84.23 and last traded at $84.64. Approximately 727,461 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,621,052 shares. The stock had previously closed at $84.80.

A number of other brokerages have also weighed in on BIDU. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group cut their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and an average price target of $127.29.

Institutional Trading of Baidu

Several hedge funds have recently made changes to their positions in BIDU. Crewe Advisors LLC purchased a new stake in shares of Baidu during the first quarter worth $31,000. iA Global Asset Management Inc. purchased a new stake in shares of Baidu during the second quarter worth approximately $52,000. Denver PWM LLC acquired a new stake in Baidu in the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC lifted its stake in Baidu by 630.9% in the third 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 last quarter. Finally, Grove Bank & Trust lifted 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 worth $77,000 after purchasing an additional 130 shares during the last quarter.

Baidu Trading Down 0.4 %

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 has a market cap of $29.62 billion, a price-to-earnings ratio of 11.12 and a beta of 0.51. The business’s 50 day moving average is $93.47 and its 200 day moving average is $93.82.

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.