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

Baidu, Inc. (NASDAQ:BIDU)’s share price traded down 0.2% 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. 727,461 shares traded hands during trading, a decline of 80% from the average session volume of 3,621,052 shares. The stock had previously closed at $84.80.

A number of other brokerages have also commented on BIDU. Barclays decreased 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 lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, September 24th. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. 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. Finally, StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.29.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC bought a new position in Baidu in the 1st quarter valued at approximately $209,000. Sei Investments Co. lifted its stake in Baidu by 0.7% in the 1st quarter. Sei Investments Co. now owns 282,324 shares of the information services provider’s stock valued at $29,723,000 after purchasing an additional 1,863 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in Baidu by 12.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 506 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Baidu in the 1st quarter valued at approximately $526,000. Finally, Monaco Asset Management SAM lifted its stake in Baidu by 60.5% in the 1st quarter. Monaco Asset Management SAM now owns 75,000 shares of the information services provider’s stock valued at $7,896,000 after purchasing an additional 28,264 shares during the last quarter.

Baidu Stock Performance

The firm has a market cap of $29.66 billion, a P/E ratio of 11.15 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company’s 50 day moving average is $93.47 and its 200 day moving average is $93.82.

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.