Baidu (NASDAQ:BIDU) Downgraded by China Renaissance to Hold

Baidu (NASDAQ:BIDU) was downgraded by analysts at China Renaissance from a “buy” rating to a “hold” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. They currently have a $86.00 price target on the information services provider’s stock. China Renaissance’s price target would suggest a potential upside of 7.06% from the company’s previous close.

BIDU has been the topic of several other research reports. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday. Benchmark decreased their price objective on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Stock Performance

NASDAQ:BIDU opened at $80.33 on Monday. Baidu has a 1-year low of $78.95 and a 1-year high of $126.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The business has a 50 day moving average of $93.70 and a 200 day moving average of $92.42. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.03 and a beta of 0.51.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Baidu in the third quarter worth about $1,054,000. SRN Advisors LLC increased its position in Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after buying an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB increased its position in Baidu by 8.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock valued at $19,249,000 after buying an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Baidu by 82.9% during the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider’s stock valued at $2,159,000 after buying an additional 9,292 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Baidu in the second quarter worth $606,000.

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.