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

Baidu (NASDAQ:BIDU) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other research firms also recently commented on BIDU. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday, November 25th. Citigroup lowered their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Benchmark cut their price objective on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Loop Capital lowered their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Eleven research 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 a consensus price target of $113.75.

Baidu Price Performance

Shares of Baidu stock opened at $85.74 on Wednesday. The stock has a market capitalization of $30.06 billion, a P/E ratio of 10.49, a PEG ratio of 1.13 and a beta of 0.46. The business has a 50 day simple moving average of $92.83 and a two-hundred day simple moving average of $91.06. Baidu has a 12 month low of $78.95 and a 12 month high of $120.25. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Investors Weigh In On Baidu

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

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.