Baidu (NASDAQ:BIDU) Shares Gap Down – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s share price gapped down before the market opened on Friday . The stock had previously closed at $98.42, but opened at $95.22. Baidu shares last traded at $93.46, with a volume of 1,376,594 shares traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BIDU shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of Baidu in a report on Saturday, March 8th. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho upped their target price on shares of Baidu from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Citigroup dropped their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $111.25.

Baidu Stock Performance

The company has a market cap of $32.77 billion, a PE ratio of 10.19, a PEG ratio of 2.96 and a beta of 0.47. The stock has a 50 day simple moving average of $91.40 and a two-hundred day simple moving average of $90.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently bought and sold shares of BIDU. Fred Alger Management LLC purchased a new stake in shares of Baidu in the third quarter valued at about $790,000. SG Americas Securities LLC lifted its position in Baidu by 147.5% during the 4th quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock worth $32,161,000 after acquiring an additional 227,338 shares during the period. World Investment Advisors LLC purchased a new position in shares of Baidu in the 3rd quarter valued at approximately $72,000. Union Bancaire Privee UBP SA acquired a new position in shares of Baidu in the fourth quarter valued at approximately $558,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Baidu by 1,111.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 360,378 shares of the information services provider’s stock worth $30,317,000 after purchasing an additional 330,627 shares during the last quarter.

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.