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

Hsbc Global Res cut shares of Baidu (NASDAQ:BIDU) from a strong-buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

A number of other analysts have also weighed in on the stock. Citigroup decreased 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. Bank of America decreased their price target on shares of Baidu from $128.00 to $117.00 and set a buy rating on the stock in a report on Friday, August 23rd. Sanford C. Bernstein cut Baidu from an outperform rating to a market perform rating and reduced their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Susquehanna lowered their price target on Baidu from $135.00 to $105.00 and set a positive rating on the stock in a report on Thursday, September 5th. Finally, 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. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baidu presently has an average rating of Moderate Buy and a consensus target price of $132.13.

Baidu Trading Up 2.5 %

Shares of BIDU opened at $105.17 on Tuesday. Baidu has a twelve month low of $79.68 and a twelve month high of $136.53. The stock has a market cap of $36.88 billion, a PE ratio of 13.73 and a beta of 0.48. 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 business’s 50-day moving average price is $86.49 and its 200-day moving average price is $95.16.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently made changes to their positions in BIDU. Primecap Management Co. CA increased its holdings in shares of Baidu by 17.2% in 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 buying an additional 1,753,577 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Baidu by 49.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after buying an additional 338,110 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Baidu by 139.3% in the fourth quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock worth $63,907,000 after purchasing an additional 312,467 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of Baidu by 103.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock worth $51,192,000 after buying an additional 295,700 shares during the last quarter. Finally, XY Capital Ltd purchased a new stake in shares of Baidu in the second quarter worth $23,880,000.

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.