Baidu, Inc. (NASDAQ:BIDU) has earned an average recommendation of “Buy” from the twenty-seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $212.55.
A number of analysts have weighed in on the company. Macquarie raised Baidu from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $189.00 to $252.00 in a research report on Friday, July 28th. HSBC Holdings plc reaffirmed a “buy” rating and issued a $245.00 price target (up previously from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Instinet raised Baidu from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $180.00 to $241.00 in a research report on Monday, July 31st. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $152.00 price target (down previously from $188.00) on shares of Baidu in a research report on Friday, July 14th. Finally, TheStreet cut Baidu from a “b-” rating to a “c+” rating in a research report on Thursday, June 22nd.
Shares of Baidu (NASDAQ BIDU) opened at 237.60 on Wednesday. Baidu has a 1-year low of $159.54 and a 1-year high of $237.93. The firm has a market cap of $82.39 billion, a price-to-earnings ratio of 44.29 and a beta of 1.98. The stock has a 50 day moving average price of $222.64 and a 200-day moving average price of $190.65.
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Several hedge funds have recently added to or reduced their stakes in BIDU. Comerica Bank grew its stake in shares of Baidu by 3.6% in the 1st quarter. Comerica Bank now owns 19,964 shares of the information services provider’s stock valued at $3,750,000 after purchasing an additional 691 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Baidu by 3.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,578,044 shares of the information services provider’s stock valued at $617,284,000 after purchasing an additional 121,660 shares during the period. Karp Capital Management Corp bought a new stake in shares of Baidu in the 1st quarter valued at approximately $7,519,000. Wedbush Securities Inc. grew its stake in shares of Baidu by 4.1% in the 1st quarter. Wedbush Securities Inc. now owns 4,124 shares of the information services provider’s stock valued at $711,000 after purchasing an additional 163 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Baidu by 2.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,373 shares of the information services provider’s stock valued at $16,454,000 after purchasing an additional 1,989 shares during the period. Institutional investors own 64.15% 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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