Baidu (NASDAQ:BIDU) Lowered to Hold at HSBC

HSBC cut shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $100.00 price target on the information services provider’s stock.

A number of other research firms have also issued reports on BIDU. Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a buy rating on the stock in a research report on Friday, August 23rd. Loop Capital reduced their target price on Baidu from $120.00 to $115.00 and set a buy rating for the company in a report on Monday, August 26th. Susquehanna reduced 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. Citigroup lowered their price target on shares of Baidu from $170.00 to $155.00 and set a buy rating on the stock in a research report on Monday, July 15th. Finally, StockNews.com lowered shares of Baidu from a buy rating to a hold rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $132.13.

Baidu Stock Up 2.5 %

Shares of BIDU opened at $105.17 on Tuesday. The company’s 50-day moving average price is $86.49 and its 200 day moving average price is $95.16. Baidu has a 12-month low of $79.68 and a 12-month high of $136.53. 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 firm has a market cap of $36.88 billion, a P/E ratio of 13.73 and a beta of 0.48.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA increased its position in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after acquiring an additional 1,753,577 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after buying an additional 67,331 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after buying an additional 14,878 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of Baidu by 6.5% in the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after buying an additional 62,830 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after buying an additional 338,110 shares during 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.