Baidu (NASDAQ:BIDU) Downgraded to "Hold" Rating by Nomura Securities

Nomura Securities downgraded shares of Baidu (NASDAQ:BIDU - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Citigroup reduced their target price on shares of Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a report on Friday, November 29th. StockNews.com cut shares of Baidu from a "buy" rating to a "hold" rating in a report on Wednesday. Susquehanna cut shares of Baidu from a "positive" rating to a "neutral" rating and cut their price target for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Mizuho increased their price target on shares of Baidu from $95.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Benchmark reissued a "buy" rating and set a $130.00 price target on shares of Baidu in a report on Wednesday. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Baidu has a consensus rating of "Hold" and a consensus target price of $111.25.

Baidu Stock Performance

Shares of NASDAQ:BIDU traded up $1.54 on Wednesday, reaching $91.19. The company's stock had a trading volume of 11,645,464 shares, compared to its average volume of 5,419,494. The stock's 50-day moving average is $87.08 and its two-hundred day moving average is $88.83. Baidu has a 52-week low of $77.19 and a 52-week high of $116.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock has a market capitalization of $31.97 billion, a P/E ratio of 9.94, a PEG ratio of 2.02 and a beta of 0.46.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its position in shares of Baidu by 2.8% in the third quarter. Creative Planning now owns 49,440 shares of the information services provider's stock valued at $5,206,000 after purchasing an additional 1,362 shares during the last quarter. Blue Trust Inc. grew its position in shares of Baidu by 26.9% in the third quarter. Blue Trust Inc. now owns 2,636 shares of the information services provider's stock valued at $278,000 after purchasing an additional 558 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 valued at $72,000 after purchasing an additional 593 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Baidu by 24.4% in the third quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider's stock valued at $582,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Baidu in the third quarter valued at approximately $218,000.

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.