Baidu (NASDAQ:BIDU) Downgraded by HSBC

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 reports. They currently have $100.00 price objective on the information services provider’s stock.

Other equities research analysts have also issued reports about the company. Sanford C. Bernstein lowered Baidu from an outperform rating to a market perform rating and reduced their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Citigroup dropped their price objective on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a report on Monday, July 15th. Jefferies Financial Group lowered their price target on shares of Baidu from $174.00 to $139.00 and set a buy rating for the company in a report on Thursday, August 22nd. StockNews.com lowered shares of Baidu from a buy rating to a hold rating in a research report on Tuesday, July 16th. Finally, Loop Capital reduced their price objective on shares of Baidu from $120.00 to $115.00 and set a buy rating on the stock in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $132.13.

Baidu Trading Up 9.1 %

NASDAQ:BIDU opened at $102.56 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 13.63 and a beta of 0.48. Baidu has a one year low of $79.68 and a one year high of $136.53. The business has a fifty day moving average price of $86.26 and a 200-day moving average price of $95.11.

Hedge Funds Weigh In On Baidu

A number of large investors have recently made changes to their positions in BIDU. Primecap Management Co. CA increased its holdings in shares of Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Baidu by 49.7% during the 1st 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 acquiring an additional 338,110 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Baidu by 139.3% during the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after acquiring an additional 312,467 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after acquiring an additional 295,700 shares in the last quarter. Finally, XY Capital Ltd purchased a new position in Baidu during the 2nd quarter valued at about $23,880,000.

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.