Baidu (NASDAQ:BIDU) PT Lowered to $145.00

Baidu (NASDAQ:BIDU) had its price objective cut by analysts at HSBC from $157.00 to $145.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. HSBC’s target price would indicate a potential upside of 46.94% from the company’s current price.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Barclays cut their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Citigroup lowered their target price on Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $171.64.

Baidu Price Performance

NASDAQ BIDU traded up $0.45 on Wednesday, hitting $98.68. 1,562,326 shares of the company’s stock were exchanged, compared to its average volume of 3,320,472. Baidu has a 52 week low of $94.25 and a 52 week high of $156.98. The stock has a 50-day moving average of $103.48 and a 200-day moving average of $109.27. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 12.78 and a beta of 0.68.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BIDU. Crossmark Global Holdings Inc. lifted its stake in Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after buying an additional 99 shares during the period. Kingsview Wealth Management LLC increased its stake in Baidu by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 110 shares in the last quarter. CWM LLC raised its holdings in shares of Baidu by 8.7% during the third quarter. CWM LLC now owns 1,591 shares of the information services provider’s stock valued at $214,000 after purchasing an additional 127 shares during the period. Beacon Financial Group grew its stake in shares of Baidu by 7.2% in the 4th quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after buying an additional 128 shares during the period. Finally, Ignite Planners LLC grew its stake in shares of Baidu by 3.8% in the 1st quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock valued at $411,000 after buying an additional 139 shares during the period.

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.