Baidu (NASDAQ:BIDU) Shares Gap Down – Here’s Why

by · The Markets Daily

Baidu, Inc. (NASDAQ:BIDU – Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $137.11, but opened at $132.11. Baidu shares last traded at $133.8750, with a volume of 472,196 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. China Renaissance upgraded shares of Baidu from a “hold” rating to a “buy” rating and raised their price target for the stock from $134.00 to $180.00 in a report on Tuesday, February 3rd. Barclays increased their price objective on shares of Baidu from $100.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Monday, January 26th. Bank of America boosted their target price on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. The Goldman Sachs Group upped their price target on shares of Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Finally, Benchmark reissued a “buy” rating on shares of Baidu in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.94.

Get Our Latest Analysis on BIDU

Baidu Stock Down 1.2%

The company has a market cap of $46.82 billion, a P/E ratio of 44.96 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a fifty day moving average price of $140.91 and a two-hundred day moving average price of $124.24.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Baidu during the 1st quarter worth approximately $334,000. Yousif Capital Management LLC lifted its holdings in Baidu by 5.2% during the second quarter. Yousif Capital Management LLC now owns 4,539 shares of the information services provider’s stock worth $389,000 after acquiring an additional 225 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Baidu by 11.9% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 169,775 shares of the information services provider’s stock worth $14,560,000 after purchasing an additional 18,042 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Baidu by 10.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,995 shares of the information services provider’s stock valued at $943,000 after purchasing an additional 1,007 shares during the period. Finally, Waterfront Wealth Inc. increased its position in shares of Baidu by 14.0% during the 2nd quarter. Waterfront Wealth Inc. now owns 22,539 shares of the information services provider’s stock valued at $1,933,000 after purchasing an additional 2,762 shares during the last quarter.

Baidu Company Profile

(Get Free Report)

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.

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