Baidu (NASDAQ:BIDU) Trading Down 0.2% on Analyst Downgrade

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares dropped 0.2% during trading on Wednesday 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 $84.23 and last traded at $84.64. Approximately 727,461 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,621,052 shares. The stock had previously closed at $84.80.

Several other equities research analysts have also issued reports on BIDU. Citigroup lowered their price target 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. 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 note on Monday, August 26th. HSBC lowered shares of Baidu from a "buy" rating to a "hold" rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Jefferies Financial Group lowered their price objective on shares of Baidu from $174.00 to $139.00 and set a "buy" rating on the stock in a research note on Thursday, August 22nd. Finally, Hsbc Global Res lowered shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $127.29.

Institutional Investors Weigh In On Baidu

Several large investors have recently modified their holdings of BIDU. Guinness Asset Management LTD grew its holdings in Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider's stock worth $204,000 after purchasing an additional 100 shares during the period. Grove Bank & Trust grew its holdings in 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 period. Advisors Asset Management Inc. grew its holdings in 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 period. Blue Trust Inc. grew 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 worth $180,000 after purchasing an additional 171 shares during the period. Finally, Intellectus Partners LLC grew its holdings in Baidu by 1.5% in the third quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider's stock worth $1,741,000 after purchasing an additional 250 shares during the period.

Baidu Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 11.12 and a beta of 0.51. The business's fifty day simple moving average is $93.47 and its 200 day simple moving average is $93.82.

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.