Baidu (NASDAQ:BIDU) Rating Lowered to Neutral at Susquehanna

Susquehanna downgraded shares of Baidu (NASDAQ:BIDU) from a positive rating to a neutral rating in a report released on Monday morning, Marketbeat.com reports. They currently have $85.00 price objective on the information services provider’s stock, down from their previous price objective of $105.00.

A number of other research firms have also commented on BIDU. Mizuho lowered their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Jefferies Financial Group reduced their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Loop Capital dropped their target price on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Finally, Benchmark reduced their price target on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $114.92.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $84.82 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 12-month low of $78.95 and a 12-month high of $123.74. The company’s 50 day moving average price is $93.59 and its two-hundred day moving average price is $91.94. The firm has a market cap of $29.74 billion, a PE ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA boosted its stake in shares of Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. International Assets Investment Management LLC boosted its position in Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in Baidu during the 3rd quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Baidu during the 3rd quarter worth approximately $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in Baidu in the 3rd quarter valued at approximately $31,587,000.

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.