Mizuho Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price objective reduced by research analysts at Mizuho from $130.00 to $115.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Mizuho’s price target points to a potential upside of 30.27% from the stock’s current price.

Several other research firms also recently commented on BIDU. Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Susquehanna decreased their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Dbs Bank cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Baidu has a consensus rating of “Moderate Buy” and an average price target of $127.29.

Baidu Stock Performance

Shares of BIDU stock opened at $88.28 on Tuesday. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of 11.63 and a beta of 0.51. The company’s 50 day moving average is $93.44 and its 200 day moving average is $93.93. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a 52-week low of $79.68 and a 52-week high of $126.23.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently added to or reduced their stakes in BIDU. Crewe Advisors LLC purchased a new stake in shares of Baidu in the 1st quarter valued at approximately $31,000. iA Global Asset Management Inc. purchased a new stake in shares of Baidu in the 2nd quarter valued at approximately $52,000. Denver PWM LLC purchased a new stake in shares of Baidu in the 2nd quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC increased its position in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. Finally, Grove Bank & Trust increased its position in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares during 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.