Baidu (NASDAQ:BIDU) Stock Price Down 3.7% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares dropped 3.7% during mid-day trading on Wednesday . The company traded as low as $98.02 and last traded at $98.72. Approximately 1,785,760 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 5,405,641 shares. The stock had previously closed at $102.51.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BIDU. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and dropped their target price for the company from $105.00 to $85.00 in a report on Monday, November 25th. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Nomura downgraded shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a research note on Monday, November 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 price objective on shares of Baidu in a research report on Wednesday, February 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Price Performance

The firm has a 50-day moving average of $89.71 and a 200-day moving average of $89.78. The stock has a market cap of $33.06 billion, a PE ratio of 10.28, a PEG ratio of 2.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Atria Investments Inc bought a new stake in Baidu in the 3rd quarter valued at $216,000. Oppenheimer & Co. Inc. increased its holdings in shares of Baidu by 6.9% in the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock worth $586,000 after purchasing an additional 357 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Baidu by 18.9% in the third quarter. Natixis Advisors LLC now owns 16,822 shares of the information services provider’s stock worth $1,771,000 after buying an additional 2,669 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in Baidu by 260.4% during the third quarter. Banque Cantonale Vaudoise now owns 11,467 shares of the information services provider’s stock valued at $1,207,000 after buying an additional 8,285 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Baidu during the 3rd quarter valued at approximately $1,054,000.

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.