StockNews.com Downgrades Baidu (NASDAQ:BIDU) to Hold

Baidu (NASDAQ:BIDU - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Wednesday.

Several other equities research analysts have also issued reports on the stock. Mizuho dropped their price objective on shares of Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. downgraded shares of Baidu from an "overweight" rating to a "neutral" rating in a research note on Wednesday, November 27th. Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $130.00 to $97.00 in a research note on Friday, August 23rd. Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Finally, Bank of America reduced their price target on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a research report on Friday, August 23rd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $113.75.

Baidu Trading Down 1.5 %

Shares of NASDAQ BIDU traded down $1.30 during midday trading on Wednesday, reaching $84.68. 2,071,695 shares of the stock were exchanged, compared to its average volume of 3,612,667. The company has a market capitalization of $29.69 billion, a P/E ratio of 10.36, a P/E/G ratio of 1.14 and a beta of 0.46. Baidu has a 52-week low of $78.95 and a 52-week high of $120.25. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $93.17 and a 200-day moving average price of $91.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. iA Global Asset Management Inc. bought a new position in Baidu during the second quarter valued at approximately $52,000. Denver PWM LLC bought a new position in Baidu during the second quarter worth $67,000. Allspring Global Investments Holdings LLC increased its position in Baidu by 630.9% during 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. World Investment Advisors LLC bought a new position in Baidu during the third quarter worth $72,000. Finally, Grove Bank & Trust increased its position in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after acquiring an additional 130 shares during the period.

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.