HSBC Lowers Baidu (NASDAQ:BIDU) to Hold

HSBC cut shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. HSBC currently has $100.00 price objective on the information services provider’s stock.

A number of other research analysts have also recently weighed in on BIDU. Benchmark reduced their price target on shares of Baidu from $180.00 to $135.00 and set a buy rating on the stock in a research report on Wednesday, July 31st. Loop Capital dropped their price objective on shares of Baidu from $120.00 to $115.00 and set a buy rating on the stock in a research note on Monday, August 26th. StockNews.com lowered shares of Baidu from a buy rating to a hold rating in a research note on Tuesday, July 16th. Susquehanna dropped their price objective on shares of Baidu from $135.00 to $105.00 and set a positive rating on the stock in a research note on Thursday, September 5th. Finally, Citigroup dropped their price objective on shares of Baidu from $170.00 to $155.00 and set a buy rating on the stock in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Baidu has an average rating of Moderate Buy and an average target price of $132.13.

Baidu Price Performance

BIDU opened at $102.56 on Tuesday. The company’s 50 day simple moving average is $86.26 and its 200 day simple moving average is $95.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. Baidu has a 1 year low of $79.68 and a 1 year high of $136.53. The stock has a market capitalization of $35.96 billion, a PE ratio of 13.63 and a beta of 0.48.

Institutional Trading of Baidu

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its stake in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock valued at $42,125,000 after purchasing an additional 50,599 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Baidu during the fourth quarter valued at $1,476,000. SRN Advisors LLC boosted its holdings in shares of Baidu by 111.5% during the first quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock valued at $1,652,000 after acquiring an additional 8,272 shares during the period. Perpetual Ltd boosted its holdings in shares of Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 45,975 shares during the period. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of Baidu during the fourth quarter valued at $11,028,000.

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.