Baidu (NASDAQ:BIDU) Trading Down 0.9% – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU) shares were down 0.9% during trading on Monday . The stock traded as low as $87.83 and last traded at $88.15. Approximately 1,450,642 shares changed hands during trading, a decline of 60% from the average daily volume of 3,620,669 shares. The stock had previously closed at $88.96.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIDU. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Bank of America lowered their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Barclays reduced their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.29.

Baidu Stock Performance

The stock has a market capitalization of $29.62 billion, a PE ratio of 11.12 and a beta of 0.51. The business’s 50 day moving average is $93.47 and its 200 day moving average is $93.82. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of Baidu by 54.5% during the third quarter. BNP Paribas Financial Markets now owns 296,190 shares of the information services provider’s stock worth $31,186,000 after purchasing an additional 104,449 shares during the last quarter. Sanders Capital LLC lifted its holdings in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after buying an additional 18,334 shares in the last quarter. FMR LLC boosted its position in Baidu by 67.2% in the 3rd quarter. FMR LLC now owns 11,781 shares of the information services provider’s stock valued at $1,240,000 after buying an additional 4,734 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Baidu by 18.1% during the third quarter. The Manufacturers Life Insurance Company now owns 321,936 shares of the information services provider’s stock worth $33,897,000 after acquiring an additional 49,329 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Baidu by 5.3% during the third quarter. Bank of Montreal Can now owns 23,558 shares of the information services provider’s stock valued at $2,478,000 after acquiring an additional 1,177 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.