Baidu (NASDAQ:BIDU) Stock Price Down 3.7% - Should You Sell?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) fell 3.7% during trading on Wednesday . The stock traded as low as $98.02 and last traded at $98.72. 1,785,760 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 5,405,641 shares. The stock had previously closed at $102.51.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BIDU. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Baidu in a research note on Saturday, March 8th. Barclays lifted their price target on Baidu from $83.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 11th. Citigroup decreased their price objective on Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a report on Friday, November 29th. StockNews.com lowered shares of Baidu from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Mizuho raised their target price on shares of Baidu from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $111.25.

Remove Ads

Baidu Trading Up 0.3 %

The firm has a market capitalization of $33.15 billion, a P/E ratio of 10.31, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $90.06 and a 200-day simple moving average of $89.95.

Institutional Trading of Baidu

Several large investors have recently added to or reduced their stakes in the business. Rialto Wealth Management LLC purchased a new position in shares of Baidu during the 4th quarter worth $42,000. Sycomore Asset Management purchased a new position in Baidu during the fourth quarter valued at $51,000. GeoWealth Management LLC lifted its position in Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider's stock valued at $55,000 after purchasing an additional 308 shares in the last quarter. World Investment Advisors LLC purchased a new stake in Baidu in the third quarter worth about $72,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of Baidu in the third quarter worth about $82,000.

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.