Baidu (NASDAQ:BIDU) Stock Price Down 4% – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU) dropped 4% during trading on Monday . The stock traded as low as $98.68 and last traded at $99.67. Approximately 3,219,059 shares changed hands during trading, a decline of 11% from the average daily volume of 3,620,721 shares. The stock had previously closed at $103.80.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of analyst reports. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Benchmark dropped their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Jefferies Financial Group lowered their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Finally, Barclays reduced their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.13.

Baidu Stock Performance

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $90.71 and a 200 day simple moving average of $95.33. The company has a market cap of $34.76 billion, a price-to-earnings ratio of 13.34 and a beta of 0.49.

Hedge Funds Weigh In On Baidu

Institutional investors have recently modified their holdings of the business. Primecap Management Co. CA grew its position in Baidu by 17.2% during the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock worth $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. Federated Hermes Inc. increased its position in Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after acquiring an additional 67,331 shares during the period. Dimensional Fund Advisors LP raised its stake in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after acquiring an additional 14,878 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of Baidu by 6.5% in the 1st quarter. ARGA Investment Management LP now owns 1,022,883 shares of the information services provider’s stock valued at $107,689,000 after purchasing an additional 62,830 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after purchasing an additional 338,110 shares during the period.

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.