Baidu (NASDAQ:BIDU) Shares Down 3.5% After Analyst Downgrade

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares fell 3.5% during mid-day trading on Tuesday after Mizuho lowered their price target on the stock from $130.00 to $115.00. Mizuho currently has an outperform rating on the stock. Baidu traded as low as $84.86 and last traded at $85.22. 1,660,642 shares changed hands during trading, a decline of 54% from the average session volume of 3,621,846 shares. The stock had previously closed at $88.28.

A number of other analysts have also issued reports on the stock. Citigroup dropped their price objective on shares of Baidu from $170.00 to $155.00 and set a "buy" rating on the stock in a research note on Monday, July 15th. Susquehanna dropped their price target on shares of Baidu from $135.00 to $105.00 and set a "positive" rating for the company in a research note on Thursday, September 5th. Barclays dropped their price target on shares of Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday, August 23rd. Dbs Bank lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Finally, Bank of America dropped their price target on shares of Baidu from $128.00 to $117.00 and set a "buy" rating for the company in a research note on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.29.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently modified their holdings of the stock. SRN Advisors LLC raised its stake in shares of Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider's stock valued at $1,652,000 after purchasing an additional 8,272 shares in the last quarter. Handelsbanken Fonder AB raised its position in Baidu by 8.9% in the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider's stock worth $19,249,000 after acquiring an additional 15,000 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in Baidu by 82.9% in the third quarter. Clear Harbor Asset Management LLC now owns 20,503 shares of the information services provider's stock worth $2,159,000 after acquiring an additional 9,292 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Baidu in the second quarter worth about $606,000. Finally, Swedbank AB bought a new stake in Baidu in the first quarter worth about $4,351,000.

Baidu Trading Down 3.9 %

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 firm's 50-day simple moving average is $93.44 and its 200 day simple moving average is $93.93. The stock has a market capitalization of $29.74 billion, a P/E ratio of 11.23 and a beta of 0.51.

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.