Baidu (NASDAQ:BIDU) Lowered to Hold at HSBC

Baidu (NASDAQ:BIDU) was downgraded by equities researchers at HSBC from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $100.00 price objective on the information services provider’s stock. HSBC’s price target suggests a potential upside of 13.28% from the stock’s previous close.

BIDU has been the subject of a number of other reports. Susquehanna decreased their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Sanford C. Bernstein cut 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 report on Friday, August 23rd. Benchmark dropped their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Citigroup cut their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.13.

Baidu Stock Performance

Shares of NASDAQ BIDU opened at $88.28 on Tuesday. The firm’s 50-day moving average price is $86.18 and its 200-day moving average price is $95.14. Baidu has a 52-week low of $79.68 and a 52-week high of $136.53. The company has a market cap of $30.96 billion, a PE ratio of 11.82 and a beta of 0.48. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new stake in shares of Baidu during the fourth quarter valued at approximately $232,000. Trexquant Investment LP purchased a new stake in shares of Baidu in the fourth quarter worth about $1,476,000. Cambridge Investment Research Advisors Inc. boosted its stake in Baidu by 51.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,496 shares of the information services provider’s stock valued at $2,322,000 after buying an additional 6,601 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Baidu by 11.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,615 shares of the information services provider’s stock valued at $898,000 after buying an additional 776 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after acquiring an additional 312,467 shares during 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.