Baidu (NASDAQ:BIDU) Stock Price Down 1% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) was down 1% on Thursday . The stock traded as low as $90.70 and last traded at $91.32. Approximately 718,059 shares traded hands during trading, a decline of 80% from the average daily volume of 3,642,566 shares. The stock had previously closed at $92.22.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of research analyst reports. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, September 24th. Finally, Bank of America decreased their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Baidu presently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Price Performance

The company has a 50 day moving average price of $92.49 and a 200 day moving average price of $94.30. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $32.14 billion, a PE ratio of 12.06 and a beta of 0.49.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently made changes to their positions in the business. Crewe Advisors LLC purchased a new stake in shares of Baidu in the first quarter valued at about $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the 2nd quarter valued at $52,000. Denver PWM LLC purchased a new position in Baidu during the second quarter worth $67,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in 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.