Baidu (NASDAQ:BIDU) Rating Lowered to “Hold” at China Renaissance

China Renaissance lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Marketbeat.com reports. They currently have $86.00 target price on the information services provider’s stock.

Other research analysts have also recently issued research reports about the company. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $85.00 in a research note on Monday. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Benchmark dropped their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, 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 research report on Thursday, August 22nd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Price Performance

BIDU stock opened at $84.82 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. Baidu has a 1 year low of $78.95 and a 1 year high of $123.74. The firm has a 50-day moving average of $93.59 and a 200 day moving average of $91.94. The company has a market cap of $29.74 billion, a P/E ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently made changes to their positions in BIDU. iA Global Asset Management Inc. purchased a new position in Baidu in the 2nd quarter worth approximately $52,000. Allspring Global Investments Holdings LLC raised its stake in shares of Baidu by 630.9% in 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 during the last quarter. Grove Bank & Trust lifted its holdings 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 valued at $77,000 after purchasing an additional 130 shares in the last quarter. Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter valued at $67,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Baidu in the 3rd quarter worth about $82,000.

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.