HSBC Trims Baidu (NASDAQ:BIDU) Target Price to $145.00

Baidu (NASDAQ:BIDU) had its target price lowered by HSBC from $157.00 to $145.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Several other analysts have also commented on BIDU. Barclays dropped their price target on shares of Baidu from $138.00 to $133.00 and set an overweight rating on the stock in a research report on Thursday, February 29th. StockNews.com lowered shares of Baidu from a buy rating to a hold rating in a research report on Saturday, March 23rd. Finally, Citigroup dropped their price target on shares of Baidu from $181.00 to $176.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $171.64.

Baidu Stock Up 0.6 %

BIDU stock opened at $100.52 on Wednesday. The firm has a market cap of $35.25 billion, a PE ratio of 13.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.01 and a current ratio of 3.01. The firm’s fifty day moving average is $103.06 and its 200 day moving average is $108.90. Baidu has a one year low of $94.25 and a one year high of $156.98.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently modified their holdings of BIDU. Crossmark Global Holdings Inc. raised its stake in Baidu by 0.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock worth $3,498,000 after purchasing an additional 99 shares during the period. Kingsview Wealth Management LLC raised its stake in Baidu by 5.8% during the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock worth $239,000 after purchasing an additional 110 shares during the period. CWM LLC raised its stake in 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 period. Beacon Financial Group raised its stake in Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after purchasing an additional 128 shares during the period. Finally, Ignite Planners LLC raised its stake in Baidu by 3.8% during the first 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 period.

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.