Benchmark Has Lowered Expectations for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price objective trimmed by Benchmark from $135.00 to $130.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other brokerages have also weighed in on BIDU. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Jefferies Financial Group dropped their price objective on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Finally, Susquehanna decreased their target price on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $119.36.

Baidu Trading Down 1.6 %

Baidu stock opened at $80.33 on Friday. Baidu has a 1 year low of $78.95 and a 1 year high of $126.23. The firm’s 50 day moving average price is $93.70 and its 200-day moving average price is $92.42. 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 stock has a market cap of $28.17 billion, a P/E ratio of 9.83 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Large investors have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. bought a new position in Baidu in the second quarter worth approximately $52,000. Denver PWM LLC bought a new position in shares of Baidu during the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC boosted its position in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust grew its stake in Baidu by 21.6% in the third 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. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Baidu during the third quarter valued at approximately $82,000.

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.