Baidu (NASDAQ:BIDU) Shares Gap Down – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) gapped down prior to trading on Tuesday . The stock had previously closed at $97.48, but opened at $92.79. Baidu shares last traded at $90.17, with a volume of 5,074,413 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on BIDU. Mizuho cut their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research note on Monday, November 25th. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and decreased their target price for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $130.00 price objective on shares of Baidu in a research report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $112.08.

Baidu Price Performance

The business has a 50-day moving average of $87.10 and a 200 day moving average of $88.79. The firm has a market capitalization of $31.61 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.46. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

Institutional investors have recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in Baidu during the 4th quarter valued at $42,000. Sycomore Asset Management acquired a new position in shares of Baidu during the fourth quarter valued at about $51,000. GeoWealth Management LLC increased its position in shares of Baidu by 88.5% during the fourth quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock worth $55,000 after acquiring an additional 308 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in Baidu in the 3rd quarter valued at about $82,000.

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.