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

Baidu (NASDAQ:BIDU) had its price target dropped by HSBC from $157.00 to $145.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. HSBC’s target price suggests a potential upside of 46.94% from the stock’s current price.

BIDU has been the subject of a number of other reports. Barclays cut their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Citigroup reduced their price objective on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a report on Saturday, March 23rd. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.64.

Baidu Stock Performance

BIDU stock traded up $0.45 during midday trading on Wednesday, hitting $98.68. 1,562,326 shares of the stock traded hands, compared to its average volume of 3,320,472. The stock’s fifty day simple moving average is $103.48 and its 200-day simple moving average is $109.27. The firm has a market cap of $34.60 billion, a P/E ratio of 12.78 and a beta of 0.68. Baidu has a 1-year low of $94.25 and a 1-year high of $156.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.01 and a quick ratio of 3.01.

Institutional Trading of Baidu

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