Baidu Receives a Hold Rating from StockNews.com

Investment research firm StockNews.com has adjusted its rating on Baidu (NASDAQ:BIDU), moving the Chinese internet giant from a 'buy' recommendation to a 'hold' status. This change was announced in a report disseminated to investors and clients on Saturday.

Other Analyst Opinions

Various equity research analysts have also shared their perspectives on Baidu's stock. On one hand, Barclays trimmed its price target on Baidu from $138.00 to $133.00 while maintaining an 'overweight' rating for the company. Then, Susquehanna lowered their price target for Baidu from $175.00 to $150.00, albeit sticking to a 'positive' outlook. Benchmark further reiterated a 'buy' rating, setting a target price of $210.00 for Baidu's shares. Overall, out of the advisors commenting, one has issued a hold rating, while sixteen have recommended a buy, leading to a 'Moderate Buy' consensus rating and an average price target of $176.69, as per market data aggregator MarketBeat.com.

Baidu's Financial Position and Investment Trends

As of the last trading session, Baidu's stocks opened at $102.18. The tech firm showcases financial steadiness with a debt-to-equity ratio standing at 0.23, and liquidity ratios indicating a quick ratio of 2.82 and a current ratio of 3.01. Baidu's share prices have experienced a 12-month low of $96.58 and a high of $160.53. Current moving average values are $105.06 over 50 days and $114.81 across a 200-day span.

Looking at institutional investment behavior, several funds have adjusted their stakes in Baidu. Notably, E Fund Management Hong Kong Co. Ltd. escalated its Baidu ownership by a substantial 134.8%, now possessing shares valued at approximately $21.6 million. Natixis Advisors L.P. initiated a stake valued around $1.3 million, and Cibc World Market Inc. increased its investment by 25.8%, reaching a total of $728,000 held in Baidu shares. Additionally, new movements included Ergoteles LLC's new Baidu investment worth around $5.6 million and Mackenzie Financial Corp's 9.0% increase in their Baidu shares, now owning a stake estimated at nearly $18.5 million. In the bigger picture, institutional investors currently hold about 21.22% of Baidu's shares.

About Baidu

As a prominent player in China's internet search industry, Baidu, Inc operates through two primary segments: Baidu Core and iQIYI. It provides a variety of services including the Baidu App for mobile-based search and feed, the Baidu Search function, a personalized Baidu Feed, Baidu Health for medical services, and Haokan, a short video application.

Baidu, StockNews, Rating