Baidu (NASDAQ:BIDU) Price Target Cut to $145.00 by Analysts at HSBC

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

A number of other equities analysts also recently weighed in on the stock. Barclays cut their price target on shares of Baidu from $138.00 to $133.00 and set an overweight rating on the stock in a research note on Thursday, February 29th. Citigroup cut their price target on shares of Baidu from $181.00 to $176.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded shares of Baidu from a buy rating to a hold rating in a research note on Saturday, March 23rd. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Baidu currently has a consensus rating of Moderate Buy and a consensus price target of $171.64.

Baidu Stock Performance

NASDAQ:BIDU opened at $99.19 on Wednesday. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.23. The company has a market cap of $34.78 billion, a P/E ratio of 12.85 and a beta of 0.68. Baidu has a fifty-two week low of $94.25 and a fifty-two week high of $156.98. The firm’s 50 day moving average is $103.33 and its two-hundred day moving average is $109.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BIDU. Nordea Investment Management AB boosted its holdings in shares of Baidu by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 347,788 shares of the information services provider’s stock valued at $41,429,000 after buying an additional 22,797 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in shares of Baidu by 8.8% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after buying an additional 116,047 shares during the period. Northern Trust Corp boosted its holdings in shares of Baidu by 1.2% in the 3rd quarter. Northern Trust Corp now owns 179,688 shares of the information services provider’s stock valued at $24,141,000 after buying an additional 2,202 shares during the period. Black Creek Investment Management Inc. boosted its holdings in shares of Baidu by 3.1% in the 3rd quarter. Black Creek Investment Management Inc. now owns 2,089,303 shares of the information services provider’s stock valued at $280,698,000 after buying an additional 63,239 shares during the period. Finally, Bank Hapoalim BM acquired a new position in shares of Baidu in the 4th quarter valued at about $1,522,000.

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.