Baidu Inc. (BIDU) Lowered to Hold at Vetr Inc.
Baidu Inc. (NASDAQ:BIDU) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Wednesday. They currently have a $192.71 price objective on the stock. Vetr‘s price objective suggests a potential upside of 3.40% from the company’s previous close.
BIDU has been the topic of several other research reports. Brean Capital reiterated a “buy” rating on shares of Baidu in a report on Tuesday, June 21st. Barclays PLC lowered Baidu to a “hold” rating in a report on Monday, June 13th. Nomura dropped their target price on Baidu from $187.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Goldman Sachs Group Inc. dropped their target price on Baidu from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 14th. Finally, Citigroup Inc. dropped their target price on Baidu from $180.00 to $179.00 and set a “neutral” rating on the stock in a report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $196.19.
Shares of Baidu (NASDAQ:BIDU) opened at 186.37 on Wednesday. Baidu has a one year low of $130.77 and a one year high of $217.97. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 13.73 and a beta of 2.30. The stock’s 50 day moving average price is $175.33 and its 200 day moving average price is $174.65.
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A number of large investors have recently modified their holdings of the company. TIAA CREF Investment Management LLC increased its stake in shares of Baidu by 11.5% in the first quarter. TIAA CREF Investment Management LLC now owns 259,918 shares of the company’s stock worth $49,613,000 after buying an additional 26,718 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Baidu by 83.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 122,100 shares of the company’s stock worth $23,306,000 after buying an additional 55,500 shares in the last quarter. Cornerstone Financial Partners LLC bought a new stake in shares of Baidu during the first quarter worth about $1,756,000. Cortland Associates Inc. MO increased its stake in shares of Baidu by 0.6% in the first quarter. Cortland Associates Inc. MO now owns 111,396 shares of the company’s stock worth $21,263,000 after buying an additional 619 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Baidu by 38.5% in the first quarter. IFP Advisors Inc now owns 1,999 shares of the company’s stock worth $382,000 after buying an additional 556 shares in the last quarter. 63.26% of the stock is currently owned by institutional investors and hedge funds.
Baidu Company Profile
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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