Baidu’s stock plunges toward a near 4-year low after disappointing results, outlook – MarketWatch

Shares of Baidu Inc.

BIDU, -16.52%

plummeted 13% in premarket trade Friday, putting them on track to open at the lowest price seen during regular-session hours since September 2015, after the China-based internet search giant swung to a first-quarter loss. The disappointing results and downbeat outlook prompted Analyst Fawne Jiang at Benchmark to keep her rating at buy, but to slash her price target by 27% to $180, given decelerating growth and persistent margin pressures. The stock has lost 9.6% over the past three months and 45% over the past 12 months, while the S&P 500

SPX, -0.58%

has gained 3.6% the past three months and tacked on 5.7% the past year.

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