Baidu, Inc. (NASDAQ:BIDU – Get Free Report)’s stock price gapped down before the market opened on Monday after Citigroup lowered their price target on the stock from $170.00 to $155.00. The stock had previously closed at $99.07, but opened at $95.13. Citigroup currently has a buy rating on the stock. Baidu shares last traded at $91.95, with a volume of 1,364,450 shares trading hands.
BIDU has been the subject of a number of other reports. Benchmark restated a “buy” rating and set a $180.00 price objective on shares of Baidu in a research report on Friday, May 17th. Susquehanna reduced their price objective on shares of Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Loop Capital dropped their target price on shares of Baidu from $155.00 to $130.00 and set a “buy” rating for the company in a report on Friday, June 21st. Macquarie lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Finally, HSBC dropped their target price on shares of Baidu from $157.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.40.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. lifted its position in Baidu by 0.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after buying an additional 99 shares during the last quarter. Guinness Asset Management LTD lifted its position in Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock valued at $204,000 after buying an additional 100 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Baidu by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after buying an additional 110 shares during the last quarter. Beacon Financial Group lifted its position in Baidu by 7.2% in the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock valued at $226,000 after buying an additional 128 shares during the last quarter. Finally, Ignite Planners LLC lifted its position in shares of Baidu by 3.8% during the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after purchasing an additional 139 shares in the last quarter.
Baidu Price Performance
The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 12.47 and a beta of 0.49. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $97.30 and its 200-day moving average price is $102.77.
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.