Baidu (NASDAQ:BIDU) Shares Down 3.5% After Analyst Downgrade

Shares of Baidu, Inc. (NASDAQ:BIDU) were down 3.5% during mid-day trading on Tuesday after Mizuho lowered their price target on the stock from $130.00 to $115.00. Mizuho currently has an outperform rating on the stock. Baidu traded as low as $84.86 and last traded at $85.22. Approximately 1,660,642 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 3,621,846 shares. The stock had previously closed at $88.28.

Other research analysts also recently issued research reports about the company. Citigroup lowered their target price on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Loop Capital decreased their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Benchmark lowered 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. Finally, Jefferies Financial Group reduced their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Hedge Funds Weigh In On Baidu

Several institutional investors have recently bought and sold shares of BIDU. Banco Santander S.A. purchased a new stake in shares of Baidu during the 3rd quarter worth approximately $201,000. L & S Advisors Inc bought a new stake in shares of Baidu in the 3rd quarter worth about $1,677,000. Massachusetts Financial Services Co. MA raised its position in shares of Baidu by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 198,393 shares of the information services provider’s stock valued at $20,889,000 after buying an additional 906 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after acquiring an additional 176,150 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in Baidu by 6.6% in the third quarter. Pzena Investment Management LLC now owns 330,131 shares of the information services provider’s stock worth $34,759,000 after acquiring an additional 20,550 shares in the last quarter.

Baidu Stock Down 3.9 %

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 50 day simple moving average of $93.44 and a two-hundred day simple moving average of $93.93. The company has a market capitalization of $29.76 billion, a P/E ratio of 11.23 and a beta of 0.51.

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.