Baidu (NASDAQ:BIDU) Shares Down 0.9% – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price fell 0.9% on Monday . The company traded as low as $87.83 and last traded at $88.15. 1,450,642 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 3,620,669 shares. The stock had previously closed at $88.96.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of research reports. Benchmark cut their target price on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Susquehanna reduced their price target on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research report on Thursday, September 5th. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Barclays decreased their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.29.

Baidu Trading Down 0.4 %

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $29.62 billion, a PE ratio of 11.12 and a beta of 0.51. The company has a 50-day simple moving average of $93.47 and a 200 day simple moving average of $93.82.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently modified their holdings of BIDU. Janney Montgomery Scott LLC purchased a new stake in shares of Baidu in the first quarter valued at approximately $209,000. Sei Investments Co. raised its position in Baidu by 0.7% during the first quarter. Sei Investments Co. now owns 282,324 shares of the information services provider’s stock worth $29,723,000 after acquiring an additional 1,863 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Baidu by 12.1% during the first quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 506 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Baidu in the first quarter valued at about $526,000. Finally, Monaco Asset Management SAM increased its stake in shares of Baidu by 60.5% during the first quarter. Monaco Asset Management SAM now owns 75,000 shares of the information services provider’s stock worth $7,896,000 after purchasing an additional 28,264 shares in 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.