Hsbc Global Res Lowers Baidu (NASDAQ:BIDU) to Hold

Baidu (NASDAQ:BIDU) was downgraded by Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

BIDU has been the topic of a number of other reports. Bank of America cut their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Sanford C. Bernstein lowered shares of 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. Benchmark dropped their target price on shares of 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 shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Loop Capital decreased their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Price Performance

NASDAQ BIDU opened at $94.81 on Tuesday. Baidu has a 1 year low of $79.68 and a 1 year high of $136.53. The business’s fifty day moving average is $86.20 and its two-hundred day moving average is $95.12. The stock has a market capitalization of $33.25 billion, a P/E ratio of 12.69 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32.

Institutional Trading of Baidu

A number of institutional investors have recently bought and sold shares of BIDU. Sanctuary Advisors LLC acquired a new stake in shares of Baidu during the 2nd quarter valued at about $601,000. SRN Advisors LLC raised its position in Baidu by 13.2% during the second quarter. SRN Advisors LLC now owns 17,764 shares of the information services provider’s stock valued at $1,536,000 after acquiring an additional 2,070 shares in the last quarter. Aristides Capital LLC acquired a new stake in Baidu in the second quarter valued at approximately $1,081,000. Truist Financial Corp grew its position in Baidu by 3.3% in the second quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock worth $5,310,000 after acquiring an additional 1,956 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Baidu during the 2nd quarter valued at $606,000.

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.