Baidu (NASDAQ:BIDU) Shares Gap Down – Time to Sell?

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

BIDU has been the topic of several research analyst reports. Mizuho lifted their target price on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 11th. StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Citigroup reduced their price objective on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Baidu presently has a consensus rating of “Hold” and an average target price of $111.25.

Baidu Trading Down 5.1 %

The business has a fifty day moving average price of $91.40 and a two-hundred day moving average price of $90.25. 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 firm has a market capitalization of $32.77 billion, a PE ratio of 10.19, a PEG ratio of 2.96 and a beta of 0.47.

Hedge Funds Weigh In On Baidu

Hedge funds have recently made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new position in shares of Baidu during the fourth quarter worth $42,000. Sycomore Asset Management purchased a new position in Baidu during the 4th quarter valued at about $51,000. GeoWealth Management LLC grew 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 acquiring an additional 308 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in Baidu during the third quarter worth about $82,000. Finally, Denver PWM LLC lifted its position 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 worth $104,000 after purchasing an additional 220 shares in the last quarter.

About Baidu

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.