Baidu (NASDAQ:BIDU) Lowered to “Hold” Rating by China Renaissance

China Renaissance lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a report released on Monday morning, MarketBeat reports. They currently have $86.00 target price on the information services provider’s stock.

Several other brokerages have also recently issued reports on BIDU. Benchmark cut their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the company from $105.00 to $85.00 in a research report on Monday. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $130.00 to $97.00 in a research report on Friday, August 23rd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Mizuho cut their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Baidu currently has a consensus rating of “Hold” and an average price target of $114.92.

Baidu Trading Up 1.6 %

NASDAQ:BIDU opened at $84.82 on Monday. The firm’s 50 day moving average is $93.64 and its 200 day moving average is $91.99. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 12 month low of $78.95 and a 12 month high of $123.74. The stock has a market capitalization of $29.74 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. iA Global Asset Management Inc. purchased a new position in shares of Baidu in the 2nd quarter valued at about $52,000. Denver PWM LLC acquired a new position in Baidu in the 2nd quarter valued at about $67,000. Allspring Global Investments Holdings LLC raised its position in Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after buying an additional 593 shares during the last quarter. World Investment Advisors LLC acquired a new position in Baidu during the third quarter worth $72,000. Finally, Grove Bank & Trust increased its holdings in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after purchasing an additional 130 shares in the last quarter.

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.