Baidu (NASDAQ:BIDU) Rating Lowered to “Hold” at China Renaissance

Baidu (NASDAQ:BIDU) was downgraded by analysts at China Renaissance from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat Ratings reports. They currently have a $86.00 target price on the information services provider’s stock. China Renaissance’s price target points to a potential upside of 2.98% from the stock’s current price.

BIDU has been the subject of several other research reports. Benchmark lowered their target price on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Bank of America reduced their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Trading Up 1.0 %

Shares of BIDU opened at $83.51 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a 52-week low of $78.95 and a 52-week high of $126.23. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 1.03 and a beta of 0.51. The business’s fifty day moving average is $93.63 and its 200-day moving average is $92.04.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently made changes to their positions in the stock. iA Global Asset Management Inc. bought a new position in Baidu during the second quarter worth $52,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during the period. Denver PWM LLC bought a new stake in shares of Baidu during the 2nd quarter valued at about $67,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in Baidu during the third quarter worth approximately $82,000.

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.