Baidu (NASDAQ:BIDU) Price Target Cut to $145.00 by Analysts at HSBC

Baidu (NASDAQ:BIDU - Free Report) had its price objective reduced by HSBC from $157.00 to $145.00 in a research report report published on Wednesday morning, Benzinga reports. HSBC currently has a buy rating on the information services provider's stock.

A number of other analysts have also issued reports on the company. StockNews.com lowered Baidu from a buy rating to a hold rating in a report on Saturday, March 23rd. Barclays dropped their price target on Baidu from $138.00 to $133.00 and set an overweight rating on the stock in a research report on Thursday, February 29th. Finally, Citigroup lowered their price objective on shares of Baidu from $181.00 to $176.00 and set a buy rating for the company in a research note on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $171.64.

Baidu Trading Up 1.0 %

BIDU stock traded up $0.96 during trading on Wednesday, hitting $99.19. The company had a trading volume of 2,928,117 shares, compared to its average volume of 3,334,286. The firm has a market capitalization of $34.78 billion, a P/E ratio of 12.78 and a beta of 0.68. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. Baidu has a 52-week low of $94.25 and a 52-week high of $156.98. The company has a 50 day simple moving average of $103.48 and a 200-day simple moving average of $109.27.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIDU. CWM LLC raised its holdings in shares of Baidu by 8.7% during the third quarter. CWM LLC now owns 1,591 shares of the information services provider's stock worth $214,000 after purchasing an additional 127 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Baidu in the 3rd quarter valued at about $344,000. Handelsbanken Fonder AB grew its holdings in Baidu by 0.5% during the third quarter. Handelsbanken Fonder AB now owns 224,239 shares of the information services provider's stock worth $30,127,000 after acquiring an additional 1,075 shares during the period. Commonwealth Equity Services LLC raised its position in Baidu by 2.6% during the third quarter. Commonwealth Equity Services LLC now owns 31,478 shares of the information services provider's stock valued at $4,229,000 after acquiring an additional 794 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in Baidu in the third quarter valued at approximately $2,086,000.

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.