Baidu (NASDAQ:BIDU) Downgraded to “Hold” at Hsbc Global Res

Hsbc Global Res downgraded shares of Baidu (NASDAQ:BIDU) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other research firms have also commented on BIDU. Benchmark lowered their price target on Baidu from $180.00 to $135.00 and set a buy rating for the company in a research report on Wednesday, July 31st. Bank of America lowered their target price on shares of Baidu from $128.00 to $117.00 and set a buy rating for the company in a report on Friday, August 23rd. StockNews.com cut shares of Baidu from a buy rating to a hold rating in a report on Tuesday, July 16th. HSBC lowered shares of Baidu from a buy rating to a hold rating and set a $100.00 price objective for the company. in a research note on Tuesday. Finally, Citigroup dropped their target price 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. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Baidu presently has a consensus rating of Moderate Buy and an average target price of $132.13.

Baidu Price Performance

BIDU stock opened at $105.17 on Tuesday. 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 business has a 50-day simple moving average of $86.49 and a two-hundred day simple moving average of $95.16. The company has a market capitalization of $36.88 billion, a P/E ratio of 13.73 and a beta of 0.48. Baidu has a 52-week low of $79.68 and a 52-week high of $136.53.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIDU. Crossmark Global Holdings Inc. raised its stake in Baidu by 0.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after acquiring an additional 99 shares during the period. Guinness Asset Management LTD increased its stake in shares of Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Beacon Financial Group raised its position in shares of Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 128 shares during the period. Ignite Planners LLC lifted its stake in shares of Baidu by 3.8% during the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after buying an additional 139 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after buying an additional 171 shares during the period.

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.