Baidu (NASDAQ:BIDU) Given New $115.00 Price Target at Mizuho

Baidu (NASDAQ:BIDU - Free Report) had its price objective lowered by Mizuho from $130.00 to $115.00 in a research note released on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the information services provider's stock.

Several other analysts have also recently issued reports on the company. StockNews.com cut Baidu from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Susquehanna cut their price objective on shares of Baidu from $135.00 to $105.00 and set a "positive" rating for the company in a research report on Thursday, September 5th. Hsbc Global Res downgraded shares of Baidu from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 24th. Loop Capital dropped their target price on shares of Baidu from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. Finally, Sanford C. Bernstein downgraded shares of Baidu from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.29.

Baidu Stock Performance

NASDAQ:BIDU traded down $3.48 on Tuesday, hitting $84.80. The company's stock had a trading volume of 4,346,715 shares, compared to its average volume of 3,634,112. The firm has a market capitalization of $29.74 billion, a P/E ratio of 11.23 and a beta of 0.51. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. Baidu has a one year low of $79.68 and a one year high of $126.23. The stock has a fifty day moving average of $93.44 and a two-hundred day moving average of $93.93.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Baidu during the first quarter worth approximately $31,000. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter worth $52,000. Denver PWM LLC purchased a new position in shares of Baidu in the 2nd quarter worth about $67,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider's stock worth $72,000 after purchasing an additional 593 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider's stock worth $77,000 after acquiring an additional 130 shares during the last quarter.

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.