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

Baidu (NASDAQ:BIDU) had its price objective reduced by investment analysts at HSBC from $157.00 to $145.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. HSBC’s target price would suggest a potential upside of 45.15% from the stock’s previous close.

Several other research analysts also recently commented on BIDU. Citigroup reduced 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. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. Finally, Barclays lowered their target price on shares of Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Baidu has an average rating of “Moderate Buy” and an average price target of $171.64.

Baidu Stock Performance

Shares of NASDAQ:BIDU opened at $99.90 on Wednesday. Baidu has a 12 month low of $94.25 and a 12 month high of $156.98. The firm’s 50-day moving average is $103.19 and its 200 day moving average is $109.13. The company has a market capitalization of $35.03 billion, a price-to-earnings ratio of 12.94 and a beta of 0.68. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Baidu

A number of large investors have recently bought and sold shares of the business. National Bank of Canada FI raised its position in shares of Baidu by 90,390.0% during the 4th quarter. National Bank of Canada FI now owns 901,280 shares of the information services provider’s stock worth $103,953,000 after purchasing an additional 900,284 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Baidu by 87.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,190,389 shares of the information services provider’s stock valued at $159,929,000 after buying an additional 556,891 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Baidu by 139.3% in the 4th quarter. Hsbc Holdings PLC now owns 536,748 shares of the information services provider’s stock valued at $63,907,000 after purchasing an additional 312,467 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in shares of Baidu by 25.7% during the third quarter. ANTIPODES PARTNERS Ltd now owns 1,322,669 shares of the information services provider’s stock valued at $175,187,000 after acquiring an additional 270,187 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Baidu by 15.3% in the 3rd quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock valued at $241,076,000 after purchasing an additional 238,374 shares during the last quarter.

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.