Baidu (NASDAQ:BIDU) Shares Down 0.9% - What's Next?

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

Wall Street Analyst Weigh In

Several research firms have recently commented on BIDU. Barclays decreased their price target on shares of Baidu from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Friday, August 23rd. Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a "buy" rating on the stock in a report on Wednesday, July 31st. Bank of America cut their price objective on shares of Baidu from $128.00 to $117.00 and set a "buy" rating on the stock in a report on Friday, August 23rd. HSBC downgraded shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective for the company. in a research report on Tuesday, September 24th. Finally, Loop Capital lowered their price objective on shares of Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $128.36.

Baidu Stock Performance

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $30.97 billion, a P/E ratio of 11.61 and a beta of 0.51. The company's 50-day moving average is $93.36 and its two-hundred day moving average is $94.01.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIDU. Guinness Asset Management LTD grew its position in Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider's stock valued at $204,000 after acquiring an additional 100 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after purchasing an additional 130 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 5.2% in the third quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider's stock worth $297,000 after purchasing an additional 140 shares during the last quarter. Blue Trust Inc. boosted its holdings in Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider's stock valued at $180,000 after acquiring an additional 171 shares in the last quarter. Finally, Intellectus Partners LLC lifted its position in Baidu by 1.5% during the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock valued at $1,741,000 after buying an additional 250 shares during the period.

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.

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