Mizuho Issues Pessimistic Forecast for Baidu (NASDAQ:BIDU) Stock Price

Baidu (NASDAQ:BIDU) had its price target reduced by Mizuho from $130.00 to $115.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the information services provider’s stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group decreased their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Finally, Barclays reduced their price target on shares of 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 eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $127.29.

Baidu Trading Down 3.9 %

BIDU opened at $84.80 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 company’s 50 day simple moving average is $93.44 and its two-hundred day simple moving average is $93.93. Baidu has a 1-year low of $79.68 and a 1-year high of $126.23. The firm has a market capitalization of $29.74 billion, a price-to-earnings ratio of 11.17 and a beta of 0.51.

Hedge Funds Weigh In On Baidu

Institutional investors have recently modified their holdings of the business. Crewe Advisors LLC acquired a new position in shares of Baidu in the first quarter worth $31,000. iA Global Asset Management Inc. acquired a new position in shares of Baidu during the second quarter worth $52,000. Allspring Global Investments Holdings LLC grew its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares in the last quarter. Finally, Denver PWM LLC acquired a new position in shares of Baidu during the second quarter worth $67,000.

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.