Baidu (NASDAQ:BIDU) Downgraded by HSBC

HSBC lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $100.00 target price on the information services provider’s stock.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein cut shares of Baidu from an outperform rating to a market perform rating and cut their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Citigroup cut their price objective on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a research report on Monday, July 15th. Benchmark decreased their target price on Baidu from $180.00 to $135.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Bank of America reduced their price target on Baidu from $128.00 to $117.00 and set a buy rating for the company in a research note on Friday, August 23rd. Finally, Susquehanna lowered their price objective on Baidu from $135.00 to $105.00 and set a positive rating on the stock in a research report on Thursday, September 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Baidu currently has a consensus rating of Moderate Buy and a consensus target price of $132.13.

Baidu Stock Up 2.5 %

BIDU stock opened at $105.17 on Tuesday. The business’s 50 day simple moving average is $86.49 and its 200 day simple moving average is $95.16. Baidu has a 1-year low of $79.68 and a 1-year high of $136.53. The firm has a market capitalization of $36.88 billion, a PE ratio of 13.73 and a beta of 0.48. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its stake in Baidu by 0.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after purchasing an additional 99 shares during the last quarter. Guinness Asset Management LTD boosted its stake in Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after buying an additional 100 shares in the last quarter. Beacon Financial Group grew its position in Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 128 shares during the last quarter. Ignite Planners LLC raised its stake in Baidu by 3.8% during the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after acquiring an additional 139 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after acquiring an additional 171 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.