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

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped down prior to trading on Friday . The stock had previously closed at $98.42, but opened at $95.22. Baidu shares last traded at $93.46, with a volume of 1,376,594 shares trading hands.

Analysts Set New Price Targets

BIDU has been the subject of several research reports. Nomura Securities cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a report on Wednesday, February 19th. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Barclays upped their target price on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. Finally, Benchmark reissued a “buy” rating and issued a $130.00 price target on shares of Baidu in a report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.25.

Baidu Price Performance

The company has a market capitalization of $32.74 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The company’s 50 day simple moving average is $91.61 and its 200-day simple moving average is $90.39.

Hedge Funds Weigh In On Baidu

A number of large investors have recently modified their holdings of the company. Denver PWM LLC raised its stake in shares of Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock valued at $104,000 after purchasing an additional 220 shares during the period. Intellectus Partners LLC increased its stake in Baidu by 1.4% during the 4th quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock worth $1,414,000 after buying an additional 235 shares during the period. US Bancorp DE lifted its holdings in Baidu by 7.2% in the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock worth $340,000 after buying an additional 270 shares in the last quarter. GeoWealth Management LLC boosted its position in Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after buying an additional 308 shares during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Baidu by 7.3% during the fourth quarter. Ignite Planners LLC now owns 5,549 shares of the information services provider’s stock valued at $466,000 after acquiring an additional 376 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.