Baidu (NASDAQ:BIDU) Downgraded by StockNews.com to “Hold”

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

BIDU has been the topic of a number of other reports. Jefferies Financial Group lowered their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Susquehanna cut their price target on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a report on Thursday, September 5th. Citigroup reduced 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. Barclays dropped their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.36.

Baidu Stock Up 0.3 %

BIDU stock opened at $89.79 on Friday. Baidu has a twelve month low of $79.68 and a twelve month high of $126.23. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.48 billion, a PE ratio of 12.02 and a beta of 0.49. The business’s 50-day simple moving average is $92.25 and its 200 day simple moving average is $94.61.

Institutional Investors Weigh In On Baidu

A number of institutional investors and hedge funds have recently modified their holdings of the business. Park Avenue Securities LLC acquired a new position in shares of Baidu in the 1st quarter valued at $559,000. Wealth Enhancement Advisory Services LLC increased its holdings in Baidu by 28.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,883 shares of the information services provider’s stock valued at $619,000 after purchasing an additional 1,307 shares during the last quarter. Mirador Capital Partners LP acquired a new position in Baidu in the first quarter valued at about $213,000. Cullinan Associates Inc. bought a new position in Baidu during the first quarter worth about $569,000. Finally, Naviter Wealth LLC grew its position in shares of Baidu by 44.5% during the 1st quarter. Naviter Wealth LLC now owns 6,367 shares of the information services provider’s stock worth $670,000 after buying an additional 1,962 shares during the period.

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.