Baidu (NASDAQ:BIDU) Trading Down 5.9% on Analyst Downgrade

Baidu, Inc. (NASDAQ:BIDUGet Free Report)’s stock price was down 5.9% during trading on Tuesday after Bank of America lowered their price target on the stock from $180.00 to $165.00. Bank of America currently has a buy rating on the stock. Baidu traded as low as $107.25 and last traded at $106.6820. Approximately 715,140 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 2,598,788 shares. The stock had previously closed at $113.39.

A number of other brokerages have also recently issued reports on BIDU. Barclays dropped their target price on shares of Baidu from $128.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday. Weiss Ratings cut Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research note on Monday, May 25th. Citigroup reiterated a “buy” rating on shares of Baidu in a research report on Tuesday, June 23rd. Finally, Benchmark reissued a “buy” rating and issued a $215.00 target price on shares of Baidu in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.11.

Check Out Our Latest Stock Report on Baidu

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signature Equity Partners LLC acquired a new position in Baidu during the first quarter worth approximately $25,000. Binnacle Investments Inc purchased a new position in Baidu during the second quarter worth approximately $29,000. Sankala Group LLC acquired a new position in shares of Baidu in the 4th quarter valued at $46,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Baidu by 35.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 105 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Baidu by 25.9% during the 4th quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock valued at $56,000 after buying an additional 88 shares during the period.

Baidu Price Performance

The company’s 50 day moving average price is $123.96 and its 200-day moving average price is $128.61. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $36.78 billion, a PE ratio of -900.39, a PEG ratio of 2.01 and a beta of 0.56.

Baidu Company Profile

(Get Free Report)

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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