Baidu, Inc. (NASDAQ:BIDU - Get Free Report)'s share price fell 1% during trading on Thursday . The stock traded as low as $90.70 and last traded at $91.32. 718,059 shares were traded during trading, a decline of 80% from the average session volume of 3,642,566 shares. The stock had previously closed at $92.22.
Wall Street Analyst Weigh In
Several brokerages have commented on BIDU. Dbs Bank lowered Baidu from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 3rd. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a research report on Thursday, August 22nd. Citigroup lowered their price target on Baidu from $170.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, July 15th. Barclays reduced their price objective on Baidu from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, August 23rd. Finally, Loop Capital reduced their price objective on Baidu from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $128.36.
Get Our Latest Stock Analysis on BIDU
Baidu Trading Down 1.1 %
The stock has a 50 day moving average of $92.60 and a 200-day moving average of $94.28. The company has a market capitalization of $31.99 billion, a P/E ratio of 12.02 and a beta of 0.49. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in Baidu in the 3rd quarter worth approximately $1,201,000. Pinnacle Associates Ltd. purchased a new position in Baidu in the 3rd quarter worth approximately $332,000. Diversify Advisory Services LLC purchased a new position in Baidu in the 3rd quarter worth approximately $4,533,000. Strategic Wealth Investment Group LLC lifted its holdings in Baidu by 114.0% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 8,647 shares of the information services provider's stock worth $954,000 after purchasing an additional 4,606 shares in the last quarter. Finally, Kercheville Advisors LLC purchased a new position in Baidu in the 3rd quarter worth approximately $211,000.
About Baidu
(
Get Free Report)
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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