Benchmark Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price target decreased by Benchmark from $135.00 to $130.00 in a report released on Friday,Benzinga reports. Benchmark currently has a buy rating on the information services provider’s stock.

BIDU has been the topic of several other reports. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday. Dbs Bank downgraded shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group lowered their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $114.92.

Baidu Stock Up 2.9 %

NASDAQ:BIDU opened at $82.67 on Friday. The company’s 50-day simple moving average is $93.67 and its 200-day simple moving average is $92.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. Baidu has a fifty-two week low of $78.95 and a fifty-two week high of $126.23. The stock has a market capitalization of $28.99 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.03 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its stake in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after buying an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC boosted its position in Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in shares of Baidu during the 3rd quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Baidu during the 3rd quarter valued at approximately $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in shares of Baidu in the 3rd quarter valued at $31,587,000.

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.