Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU) gapped down prior to trading on Thursday . The stock had previously closed at $86.75, but opened at $82.65. Baidu shares last traded at $81.33, with a volume of 2,300,914 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. HSBC lowered Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, September 24th. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Mizuho dropped their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Bank of America decreased 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. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.29.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The business has a 50-day simple moving average of $93.81 and a 200-day simple moving average of $92.97. The firm has a market capitalization of $28.40 billion, a PE ratio of 10.75 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently modified their holdings of BIDU. Janney Montgomery Scott LLC purchased a new stake in shares of Baidu in the first quarter worth approximately $209,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Baidu by 96.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider’s stock worth $3,969,000 after buying an additional 17,994 shares during the period. Pitcairn Co. purchased a new stake in shares of Baidu in the first quarter worth approximately $535,000. Natixis raised its holdings in shares of Baidu by 373.8% in the first quarter. Natixis now owns 26,393 shares of the information services provider’s stock worth $2,779,000 after buying an additional 20,822 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of Baidu in the first quarter worth approximately $31,000.

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.