Baidu (NASDAQ:BIDU) Downgraded by Barclays to Equal Weight

Barclays cut shares of Baidu (NASDAQ:BIDU) from an overweight rating to an equal weight rating in a report issued on Friday morning, MarketBeat Ratings reports.

Several other equities analysts have also recently commented on BIDU. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Loop Capital reduced 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. Mizuho decreased their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Susquehanna lowered their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America lowered their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Eight equities research 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, Baidu presently has an average rating of “Hold” and an average price target of $119.36.

Baidu Price Performance

BIDU opened at $80.33 on Friday. 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 company has a market capitalization of $28.17 billion, a price-to-earnings ratio of 10.58 and a beta of 0.51. Baidu has a 1 year low of $78.95 and a 1 year high of $126.23. The firm’s fifty day moving average price is $93.70 and its two-hundred day moving average price is $92.66.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently bought and sold shares of BIDU. Coldstream Capital Management Inc. purchased a new stake in Baidu in the 3rd quarter worth $653,000. Public Employees Retirement System of Ohio bought a new stake in shares of Baidu in the third quarter worth about $5,009,000. Y Intercept Hong Kong Ltd bought a new position in shares of Baidu during the 3rd quarter valued at approximately $3,660,000. MML Investors Services LLC lifted its position in Baidu by 453.5% during the third quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock valued at $1,461,000 after purchasing an additional 11,370 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Baidu by 10.8% in the third quarter. National Bank of Canada FI now owns 118,886 shares of the information services provider’s stock worth $12,518,000 after acquiring an additional 11,634 shares in the last quarter.

About Baidu

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.