Baidu (NASDAQ:BIDU) Stock Price Down 4% – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price dropped 4% during trading on Monday . The company 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 Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Jefferies Financial Group decreased their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a research report on Thursday, August 22nd. Benchmark reduced their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Loop Capital reduced their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Susquehanna lowered their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Baidu Price 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 stock’s 50 day moving average price is $91.26 and its two-hundred day moving average price is $95.21. The stock has a market cap of $33.41 billion, a price-to-earnings ratio of 12.85 and a beta of 0.49.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in shares of Baidu by 39.8% in the fourth quarter. Fisher Asset Management LLC now owns 11,013 shares of the information services provider’s stock worth $1,312,000 after buying an additional 3,134 shares during the last quarter. Perpetual Ltd lifted its position in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after buying an additional 45,975 shares in the last quarter. Ridgewood Investments LLC raised its position in shares of Baidu by 80.6% during the 1st quarter. Ridgewood Investments LLC now owns 6,551 shares of the information services provider’s stock worth $690,000 after purchasing an additional 2,924 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Baidu in the first quarter valued at approximately $559,000. Finally, Ignite Planners LLC boosted its stake in Baidu by 3.8% during the 1st 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 during the last quarter.

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.