Baidu (NASDAQ:BIDU) Lowered to Equal Weight Rating by Barclays

Barclays cut shares of Baidu (NASDAQ:BIDU) from an overweight rating to an equal weight rating in a research report report published on Friday, MarketBeat.com reports.

A number of other analysts have also weighed in on BIDU. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Mizuho decreased their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Jefferies Financial Group cut their price target on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Bank of America decreased their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $119.36.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $80.33 on Friday. The company’s fifty day moving average is $93.70 and its 200 day moving average is $92.42. Baidu has a 52 week low of $78.95 and a 52 week high of $126.23. The stock has a market cap of $28.17 billion, a PE ratio of 9.83 and a beta of 0.51. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Baidu

Several large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in shares of Baidu during the first quarter valued at approximately $209,000. Axxcess Wealth Management LLC increased its position in Baidu by 28.9% during the first quarter. Axxcess Wealth Management LLC now owns 4,287 shares of the information services provider’s stock valued at $451,000 after acquiring an additional 962 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Baidu by 8.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after purchasing an additional 196 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Baidu by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,017,341 shares of the information services provider’s stock worth $107,107,000 after buying an additional 84,776 shares during the last quarter. Finally, Bellevue Group AG purchased a new position in shares of Baidu during the 1st quarter worth $211,000.

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.