Baidu (NASDAQ:BIDU) Rating Lowered to “Equal Weight” at Barclays

Baidu (NASDAQ:BIDU) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat Ratings reports.

Several other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Susquehanna lowered their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Finally, HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research report on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $119.36.

Baidu Trading Down 1.6 %

NASDAQ:BIDU opened at $80.33 on Friday. The firm has a market capitalization of $28.17 billion, a P/E ratio of 9.83 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average of $93.70 and a 200 day moving average of $92.54. Baidu has a 52 week low of $78.95 and a 52 week high of $126.23.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in Baidu in the first quarter worth $209,000. Axxcess Wealth Management LLC boosted its position in Baidu by 28.9% in the 1st quarter. Axxcess Wealth Management LLC now owns 4,287 shares of the information services provider’s stock valued at $451,000 after buying an additional 962 shares during the period. Advisors Asset Management Inc. increased its position in shares of Baidu by 8.2% during the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after acquiring an additional 196 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Baidu by 9.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock valued at $107,107,000 after acquiring an additional 84,776 shares in the last quarter. Finally, Bellevue Group AG purchased a new stake in shares of Baidu in the first quarter valued at approximately $211,000.

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.