Baidu (NASDAQ:BIDU) Rating Lowered to Hold at Hsbc Global Res

Baidu (NASDAQ:BIDU) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

BIDU has been the topic of a number of other research reports. Bank of America lowered their target price on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Benchmark cut their price objective on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Citigroup lowered their target price on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Loop Capital cut their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Performance

Shares of BIDU opened at $94.01 on Tuesday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a 12 month low of $79.68 and a 12 month high of $136.53. The firm has a fifty day simple moving average of $86.20 and a 200 day simple moving average of $95.12. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 12.59 and a beta of 0.48.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently modified their holdings of the business. Primecap Management Co. CA raised its stake in Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after acquiring an additional 1,753,577 shares in the last quarter. Federated Hermes Inc. increased its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after purchasing an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after purchasing an additional 14,878 shares during the last quarter. ARGA Investment Management LP boosted its position in Baidu by 6.5% in the first quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after buying an additional 62,830 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock worth $107,247,000 after buying an additional 338,110 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.