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

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped down prior to trading on Tuesday . The stock had previously closed at $116.75, but opened at $112.23. Baidu shares last traded at $113.4280, with a volume of 294,579 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BIDU. Zephirin Group boosted their price target on Baidu from $88.00 to $89.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. BNP Paribas Exane began coverage on Baidu in a research note on Wednesday, April 1st. They issued an “outperform” rating and a $161.00 price target for the company. Zacks Research downgraded Baidu from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 16th. Susquehanna boosted their target price on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Finally, Morgan Stanley boosted their target price on Baidu from $135.00 to $140.00 in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Stock Performance

The company has a market capitalization of $38.19 billion, a P/E ratio of -935.09, a PEG ratio of 1.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85. The company has a fifty day moving average price of $126.80 and a two-hundred day moving average price of $129.91.

Institutional Trading of Baidu

Several hedge funds and other institutional investors have recently made changes to their positions in BIDU. Schroder Investment Management Group bought a new stake in shares of Baidu during the third quarter worth about $165,334,000. RPD Fund Management LLC grew its holdings in shares of Baidu by 161.6% during the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider’s stock worth $107,959,000 after purchasing an additional 777,570 shares during the last quarter. Morgan Stanley grew its holdings in shares of Baidu by 38.0% during the fourth quarter. Morgan Stanley now owns 2,709,426 shares of the information services provider’s stock worth $354,014,000 after purchasing an additional 745,588 shares during the last quarter. Contrarius Group Holdings Ltd grew its holdings in shares of Baidu by 500.3% during the third quarter. Contrarius Group Holdings Ltd now owns 891,749 shares of the information services provider’s stock worth $117,506,000 after purchasing an additional 743,205 shares during the last quarter. Finally, ARK Investment Management LLC grew its holdings in shares of Baidu by 127.8% during the fourth quarter. ARK Investment Management LLC now owns 1,157,878 shares of the information services provider’s stock worth $151,288,000 after purchasing an additional 649,490 shares during the last quarter.

Baidu Company Profile

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.