Baidu, Inc. (NASDAQ:BIDU – Get Free Report) dropped 1% on Thursday . The company traded as low as $90.70 and last traded at $91.32. Approximately 718,059 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 3,642,566 shares. The stock had previously closed at $92.22.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Barclays dropped their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Susquehanna dropped their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Finally, Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.36.
Check Out Our Latest Stock Report on Baidu
Baidu Stock Performance
Hedge Funds Weigh In On Baidu
A number of institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Baidu by 28.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock worth $619,000 after purchasing an additional 1,307 shares during the period. BNP Paribas Financial Markets boosted its stake in Baidu by 14.8% during the first quarter. BNP Paribas Financial Markets now owns 108,466 shares of the information services provider’s stock worth $11,419,000 after buying an additional 14,007 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu during the first quarter valued at about $209,000. BNP Paribas purchased a new stake in shares of Baidu in the 1st quarter valued at approximately $2,105,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in shares of Baidu in the 1st quarter worth approximately $216,000.
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.
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