Benchmark Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its target price cut by Benchmark from $135.00 to $130.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Finally, Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $119.36.

Baidu Trading Down 1.6 %

Baidu stock opened at $80.33 on Friday. 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 firm has a market cap of $28.17 billion, a price-to-earnings ratio of 10.58 and a beta of 0.51. Baidu has a 1 year low of $78.95 and a 1 year high of $126.23. The firm’s 50 day moving average price is $93.70 and its two-hundred day moving average price is $92.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA increased its holdings in shares of Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares during the period. International Assets Investment Management LLC increased its stake in Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. bought a new stake in Baidu in the third quarter valued at about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Baidu in the third quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. bought a new stake in Baidu in the third quarter valued at about $31,587,000.

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.