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

Baidu (NASDAQ:BIDU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts also recently issued reports on BIDU. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Citigroup cut their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Hsbc Global Res lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.75.

Baidu Stock Up 1.1 %

BIDU stock traded up $0.95 on Thursday, hitting $90.32. 2,474,237 shares of the company’s stock were exchanged, compared to its average volume of 3,606,405. The firm has a 50 day moving average price of $91.28 and a two-hundred day moving average price of $90.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 12-month low of $78.95 and a 12-month high of $120.25. The stock has a market cap of $31.67 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.13 and a beta of 0.46.

Institutional Trading of Baidu

A number of hedge funds have recently added to or reduced their stakes in the company. iA Global Asset Management Inc. acquired a new position in shares of Baidu in the second quarter worth about $52,000. Denver PWM LLC purchased a new position in shares of Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 593 shares during the period. World Investment Advisors LLC purchased a new position in Baidu during the third quarter worth approximately $72,000. Finally, Grove Bank & Trust grew its holdings in 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 purchasing an additional 130 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.