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Baidu (NASDAQ:BIDU) Sets New 1-Year Low Following Analyst Downgrade

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Baidu, Inc. (NASDAQ:BIDU - Get Free Report) hit a new 52-week low during trading on Friday after Benchmark lowered their price target on the stock from $135.00 to $130.00. Benchmark currently has a buy rating on the stock. Baidu traded as low as $79.16 and last traded at $79.82, with a volume of 649246 shares. The stock had previously closed at $81.63.

Other equities research analysts also recently issued reports about the company. Hsbc Global Res downgraded Baidu from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 24th. Sanford C. Bernstein downgraded Baidu from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Mizuho decreased their target price on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Susquehanna dropped their price target on shares of Baidu from $135.00 to $105.00 and set a "positive" rating on the stock in a report on Thursday, September 5th. Finally, Loop Capital lowered their price objective 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 investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Baidu presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.93.

Read Our Latest Analysis on Baidu

Institutional Trading of Baidu

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Baidu during the 1st quarter valued at about $31,000. iA Global Asset Management Inc. purchased a new stake in Baidu in the 2nd quarter worth about $52,000. Allspring Global Investments Holdings LLC grew its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock valued at $72,000 after buying an additional 593 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Baidu by 21.6% during the 3rd 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 last quarter. Finally, Denver PWM LLC purchased a new stake in Baidu in the second quarter worth $67,000.

Baidu Price Performance

The stock has a market capitalization of $28.17 billion, a PE ratio of 10.58 and a beta of 0.51. The stock's 50 day moving average price is $93.70 and its 200-day moving average price is $92.66. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

About Baidu

(Get Free Report)

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.

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