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

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BIDU. Nomura raised their price target on Baidu from $186.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Susquehanna lifted their target price on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. Zephirin Group lifted their target price on Baidu from $88.00 to $89.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. Finally, Morgan Stanley lifted their target price on Baidu from $135.00 to $140.00 in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.58.

Baidu Stock Performance

The stock’s 50-day simple moving average is $126.80 and its 200-day simple moving average is $129.91. The stock has a market cap of $38.19 billion, a price-to-earnings ratio of -935.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIDU. Signature Equity Partners LLC acquired a new position in Baidu in the first quarter valued at about $25,000. Binnacle Investments Inc acquired a new position in Baidu in the second quarter valued at about $29,000. Sankala Group LLC acquired a new position in Baidu in the fourth quarter valued at about $46,000. Ameritas Advisory Services LLC raised its stake in Baidu by 12,400.0% in the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Baidu by 35.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 405 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 105 shares in 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.