Baidu (NASDAQ:BIDU) Trading Down 0.7% - What's Next?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report)'s share price fell 0.7% on Wednesday . The stock traded as low as $89.15 and last traded at $91.21. 1,680,674 shares were traded during mid-day trading, a decline of 54% from the average session volume of 3,623,661 shares. The stock had previously closed at $91.88.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIDU. Jefferies Financial Group lowered their price objective on Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Benchmark lowered their target price on Baidu from $180.00 to $135.00 and set a "buy" rating for the company in a report on Wednesday, July 31st. Barclays reduced their price objective on Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, August 23rd. Susquehanna reduced their price objective on Baidu from $135.00 to $105.00 and set a "positive" rating for the company in a research report on Thursday, September 5th. Finally, HSBC downgraded 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. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $128.36.

Baidu Price Performance

The business has a 50-day moving average price of $93.08 and a 200 day moving average price of $94.14. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.88 billion, a price-to-earnings ratio of 11.98 and a beta of 0.51.

Institutional Trading of Baidu

Several large investors have recently added to or reduced their stakes in BIDU. Natixis Advisors LLC increased its stake in shares of Baidu by 18.9% in the third quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider's stock worth $1,771,000 after acquiring an additional 2,669 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of 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 acquiring an additional 250 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Baidu by 6.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider's stock valued at $586,000 after buying an additional 357 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Baidu by 126.5% in the third quarter. Rakuten Securities Inc. now owns 6,785 shares of the information services provider's stock worth $714,000 after buying an additional 3,790 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in Baidu by 23.7% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 12,483 shares of the information services provider's stock valued at $1,280,000 after acquiring an additional 2,389 shares in the last quarter.

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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