Baidu (NASDAQ:BIDU) Cut to Hold at Nomura Securities

Nomura Securities lowered shares of Baidu (NASDAQ:BIDU) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also recently weighed in on BIDU. Citigroup reduced their price target on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday, November 25th. Barclays increased their price target on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Mizuho lifted their price objective on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Benchmark reissued a “buy” rating and set a $130.00 target price on shares of Baidu in a research note on Wednesday. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Baidu has an average rating of “Hold” and an average price target of $111.25.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $91.19 on Wednesday. The company has a market capitalization of $31.97 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.02 and a beta of 0.46. The firm’s 50 day simple moving average is $87.08 and its 200 day simple moving average is $88.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. Baidu has a fifty-two week low of $77.19 and a fifty-two week high of $116.25.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Primecap Management Co. CA grew its holdings in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Dodge & Cox boosted its position in Baidu by 0.4% during the fourth quarter. Dodge & Cox now owns 5,916,215 shares of the information services provider’s stock valued at $498,796,000 after purchasing an additional 22,000 shares during the last quarter. Sanders Capital LLC grew its stake in Baidu by 0.7% in the third quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Baidu by 9.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,410,307 shares of the information services provider’s stock worth $203,213,000 after purchasing an additional 207,966 shares during the last quarter. Finally, Appaloosa LP increased its position in shares of Baidu by 7.2% during the 4th quarter. Appaloosa LP now owns 1,527,909 shares of the information services provider’s stock worth $128,818,000 after purchasing an additional 102,909 shares during the last quarter.

Baidu Company Profile

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.