Baidu (NASDAQ:BIDU) Rating Lowered to Neutral at Susquehanna

Baidu (NASDAQ:BIDU) was downgraded by investment analysts at Susquehanna from a “positive” rating to a “neutral” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $85.00 price objective on the information services provider’s stock, down from their previous price objective of $105.00. Susquehanna’s price target would suggest a potential upside of 5.81% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on BIDU. Bank of America cut their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday. Mizuho reduced their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com cut Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Stock Down 1.6 %

BIDU opened at $80.33 on Monday. The stock has a market cap of $28.17 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.03 and a beta of 0.51. The stock’s 50 day moving average price is $93.70 and its 200 day moving average price is $92.42. Baidu has a 12 month low of $78.95 and a 12 month high of $126.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently modified their holdings of BIDU. Primecap Management Co. CA raised its stake in shares of Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after purchasing an additional 1,061,893 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Baidu during the third quarter worth $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Baidu during the third quarter valued at about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new stake in shares of Baidu in the third quarter worth about $31,587,000.

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.