Baidu (NASDAQ:BIDU) Reaches New 12-Month Low – What’s Next?

Baidu, Inc. (NASDAQ:BIDU)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $78.28 and last traded at $78.28, with a volume of 981639 shares changing hands. The stock had previously closed at $81.34.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BIDU. Benchmark dropped their target price on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. China Renaissance lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday, November 25th. Finally, Barclays cut shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Price Performance

The stock has a market cap of $27.15 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.19 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a 50-day moving average price of $86.16 and a 200-day moving average price of $89.25.

Hedge Funds Weigh In On Baidu

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 593 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Baidu in the third quarter worth $72,000. Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Baidu during the third quarter valued at $82,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Baidu by 102.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,098 shares of the information services provider’s stock worth $97,000 after purchasing an additional 555 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.