Baidu Inc. (BIDU) Trading 3.7% Higher After Analyst Upgrade
Baidu Inc. (NASDAQ:BIDU)’s share price was up 3.7% on Wednesday after Deutsche Bank AG raised their price target on the stock from $182.00 to $219.00. Deutsche Bank AG currently has a buy rating on the stock. Baidu traded as high as $195.69 and last traded at $193.35, with a volume of 3,480,992 shares changing hands. The stock had previously closed at $186.37.
BIDU has been the topic of a number of other research reports. Citigroup Inc. lowered Baidu from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $238.00 to $180.00 in a research report on Monday, June 13th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, May 24th. Vetr lowered Baidu from a “strong-buy” rating to a “buy” rating and set a $203.76 price target on the stock. in a research report on Monday, May 30th. JPMorgan Chase & Co. began coverage on Baidu in a research report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 price target on the stock. Finally, TH Capital lowered Baidu from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. Baidu currently has a consensus rating of “Buy” and an average target price of $196.19.
Several large investors have recently made changes to their positions in BIDU. Cornerstone Advisors Inc. raised its stake in shares of Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock valued at $100,000 after buying an additional 5 shares during the last quarter. Huntington National Bank raised its stake in shares of Baidu by 38.2% in the second quarter. Huntington National Bank now owns 622 shares of the company’s stock valued at $103,000 after buying an additional 172 shares during the last quarter. Signaturefd LLC raised its stake in shares of Baidu by 45.0% in the second quarter. Signaturefd LLC now owns 741 shares of the company’s stock valued at $122,000 after buying an additional 230 shares during the last quarter. WealthTrust Arizona LLC raised its stake in shares of Baidu by 12.1% in the second quarter. WealthTrust Arizona LLC now owns 777 shares of the company’s stock valued at $128,000 after buying an additional 84 shares during the last quarter. Finally, Barnett & Company Inc. purchased a new position in Baidu during the first quarter worth $164,000. Institutional investors own 63.21% of the company’s stock.
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The stock has a market cap of $67.21 billion, a price-to-earnings ratio of 14.28 and a beta of 2.30. The firm has a 50-day moving average price of $175.33 and a 200-day moving average price of $174.65.
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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