Baidu (NASDAQ:BIDU) Lowered to Hold at Hsbc Global Res

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

BIDU has been the subject of several other research reports. Benchmark cut their price target on shares of Baidu from $180.00 to $135.00 and set a buy rating for the company in a report on Wednesday, July 31st. Susquehanna dropped their target price on shares of Baidu from $135.00 to $105.00 and set a positive rating for the company in a report on Thursday, September 5th. Loop Capital dropped their target price on shares of Baidu from $120.00 to $115.00 and set a buy rating for the company in a report on Monday, August 26th. Sanford C. Bernstein lowered shares of Baidu from an outperform rating to a market perform rating and dropped their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Citigroup dropped their target price on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $132.13.

Baidu Price Performance

NASDAQ:BIDU opened at $94.81 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market cap of $33.25 billion, a price-to-earnings ratio of 12.69 and a beta of 0.48. The company has a 50 day moving average price of $86.20 and a 200-day moving average price of $95.12. Baidu has a 1-year low of $79.68 and a 1-year high of $136.53.

Institutional Investors Weigh In On Baidu

Large investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Baidu by 14.5% in the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after acquiring an additional 50,599 shares during the period. SRN Advisors LLC boosted its holdings in shares of Baidu by 111.5% in the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after acquiring an additional 8,272 shares during the period. Perpetual Ltd boosted its holdings in shares of Baidu by 45.4% in the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 45,975 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in shares of Baidu in the fourth quarter valued at approximately $11,028,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in shares of Baidu during the first quarter worth $216,000.

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.