StockNews.com Downgrades Baidu (NASDAQ:BIDU) to Hold

Baidu (NASDAQ:BIDU) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other brokerages also recently issued reports on BIDU. Jefferies Financial Group lowered their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Monday, November 25th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Finally, Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.75.

Baidu Trading Up 0.6 %

Shares of Baidu stock opened at $90.82 on Thursday. The company’s fifty day simple moving average is $90.51 and its 200-day simple moving average is $90.51. The company has a market cap of $31.85 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.19 and a beta of 0.46. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 1 year low of $78.95 and a 1 year high of $120.25.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently modified their holdings of BIDU. iA Global Asset Management Inc. acquired a new position in shares of Baidu in the 2nd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC grew 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 valued at $72,000 after purchasing an additional 593 shares during the period. Grove Bank & Trust grew its position 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 acquired a new position in shares of Baidu in the 2nd quarter valued at approximately $67,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Baidu in the 3rd quarter valued at approximately $82,000.

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.