Susquehanna Downgrades Baidu (NASDAQ:BIDU) to Neutral

Susquehanna downgraded shares of Baidu (NASDAQ:BIDU) from a positive rating to a neutral rating in a report released on Monday, Marketbeat Ratings reports. Susquehanna currently has $85.00 price target on the information services provider’s stock, down from their prior price target of $105.00.

Several other equities research analysts have also recently weighed in on the stock. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research report on Tuesday, September 24th. Finally, Benchmark lowered their target price on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Stock Performance

NASDAQ:BIDU opened at $84.82 on Monday. 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 fifty-two week low of $78.95 and a fifty-two week high of $123.74. The company has a 50 day simple moving average of $93.59 and a two-hundred day simple moving average of $91.94. The company has a market capitalization of $29.74 billion, a PE ratio of 10.38, a P/E/G ratio of 1.06 and a beta of 0.51.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA grew its holdings in shares of Baidu by 1.5% during the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after buying an additional 176,150 shares during the last quarter. Sanders Capital LLC boosted its stake in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares during the last quarter. Federated Hermes Inc. increased its holdings in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after purchasing an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after purchasing an additional 14,878 shares during the last quarter. Finally, CoreView Capital Management Ltd lifted its holdings in shares of Baidu by 15.6% in the third quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after purchasing an additional 166,618 shares in the last quarter.

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.