Baidu (NASDAQ:BIDU) Cut to Equal Weight at Barclays

Barclays cut shares of Baidu (NASDAQ:BIDU - Free Report) from an overweight rating to an equal weight rating in a research note published on Friday morning, MarketBeat reports.

A number of other analysts have also weighed in on BIDU. Jefferies Financial Group lowered their price target on shares of Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Dbs Bank downgraded Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a report on Friday, October 25th. Benchmark dropped their price objective on Baidu from $180.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Finally, Loop Capital cut their target price 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. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Baidu currently has an average rating of "Moderate Buy" and a consensus price target of $126.93.

Baidu Stock Down 1.6 %

Shares of NASDAQ:BIDU traded down $1.30 during trading on Friday, reaching $80.33. 5,524,316 shares of the company traded hands, compared to its average volume of 3,633,085. The firm has a market cap of $28.17 billion, a P/E ratio of 10.55 and a beta of 0.51. 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 1-year low of $78.95 and a 1-year high of $126.23. The firm has a fifty day simple moving average of $93.77 and a 200 day simple moving average of $92.89.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. iA Global Asset Management Inc. acquired a new position in Baidu in the 2nd quarter valued at approximately $52,000. Denver PWM LLC bought a new position in shares of Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after acquiring an additional 593 shares during the period. Grove Bank & Trust increased its position in Baidu by 21.6% during 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 period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Baidu during the third quarter worth $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.