Baidu, Inc. (BIDU) Upgraded to “Hold” by BidaskClub
Baidu, Inc. (NASDAQ:BIDU) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Several other research analysts have also recently commented on the company. Jefferies Group LLC increased their price target on Baidu from $188.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, May 1st. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of Baidu in a research report on Friday, April 28th. Barclays PLC initiated coverage on Baidu in a research report on Tuesday, March 28th. They issued an “equal weight” rating and a $195.00 price objective for the company. Benchmark Co. initiated coverage on Baidu in a research report on Tuesday, April 18th. They issued a “buy” rating and a $190.00 price objective for the company. Finally, Bank of America Corporation reaffirmed a “buy” rating on shares of Baidu in a research report on Tuesday, February 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Baidu has a consensus rating of “Hold” and a consensus price target of $186.27.
Shares of Baidu (BIDU) traded down 0.66% during midday trading on Thursday, hitting $178.14. The stock had a trading volume of 1,765,217 shares. Baidu has a one year low of $155.28 and a one year high of $197.80. The firm’s 50-day moving average is $183.98 and its 200 day moving average is $176.88. The company has a market capitalization of $61.79 billion, a PE ratio of 38.95 and a beta of 1.84.
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Several large investors have recently modified their holdings of BIDU. Harris Associates L P increased its stake in shares of Baidu by 9.0% in the first quarter. Harris Associates L P now owns 6,948,582 shares of the information services provider’s stock worth $1,198,769,000 after buying an additional 572,298 shares in the last quarter. Dodge & Cox acquired a new stake in shares of Baidu during the fourth quarter worth $933,189,000. UBS Asset Management Americas Inc. increased its stake in shares of Baidu by 34.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,456,384 shares of the information services provider’s stock worth $568,265,000 after buying an additional 883,702 shares in the last quarter. Capital Fund Management S.A. increased its stake in shares of Baidu by 67.4% in the first quarter. Capital Fund Management S.A. now owns 33,637 shares of the information services provider’s stock worth $5,803,000 after buying an additional 13,549 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Baidu by 1.5% in the first quarter. Neuberger Berman Group LLC now owns 1,307,575 shares of the information services provider’s stock worth $225,583,000 after buying an additional 19,932 shares in the last quarter. 64.30% of the stock is currently owned by hedge funds and other institutional investors.
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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