Baidu Inc. (NASDAQ:BIDU)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group in a research note issued on Monday. They currently have a $188.00 target price on the stock. Jefferies Group’s price objective would suggest a potential upside of 2.46% from the stock’s previous close.
A number of other research firms have also recently commented on BIDU. Deutsche Bank AG cut Baidu from a “buy” rating to a “hold” rating and decreased their price target for the stock from $219.00 to $201.00 in a research note on Wednesday, September 28th. Vetr cut Baidu from a “hold” rating to a “sell” rating and set a $176.40 price target on the stock. in a research note on Tuesday, September 6th. Bank of America Corp. restated a “sell” rating on shares of Baidu in a research note on Friday. Nomura reaffirmed a “neutral” rating and set a $155.00 price objective on shares of Baidu in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. assumed coverage on Baidu in a research report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. Baidu currently has a consensus rating of “Hold” and an average price target of $195.55.
Shares of Baidu (NASDAQ:BIDU) traded up 0.35% during mid-day trading on Monday, reaching $182.70. The company’s stock had a trading volume of 860,483 shares. The stock has a market capitalization of $63.32 billion, a price-to-earnings ratio of 13.44 and a beta of 2.16. The company’s 50-day moving average is $180.95 and its 200-day moving average is $175.35. Baidu has a 52 week low of $139.61 and a 52 week high of $217.97.
Several large investors have recently bought and sold shares of BIDU. Causeway Capital Management LLC bought a new stake in Baidu during the second quarter worth about $453,930,000. Ruane Cunniff & Goldfarb Inc. bought a new stake in Baidu during the second quarter worth about $430,280,000. Franklin Resources Inc. increased its stake in Baidu by 126.6% in the second quarter. Franklin Resources Inc. now owns 3,706,263 shares of the company’s stock worth $612,088,000 after buying an additional 2,070,818 shares during the last quarter. State Street Corp increased its stake in Baidu by 65.9% in the second quarter. State Street Corp now owns 4,368,064 shares of the company’s stock worth $721,384,000 after buying an additional 1,735,388 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Baidu by 90.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,283,368 shares of the company’s stock worth $542,248,000 after buying an additional 1,563,274 shares during the last quarter. Institutional investors own 63.21% of the company’s stock.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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