Baidu, Inc. (BIDU) Given “Hold” Rating at Citigroup Inc.
Baidu, Inc. (NASDAQ:BIDU)‘s stock had its “hold” rating reaffirmed by equities research analysts at Citigroup Inc. in a note issued to investors on Thursday. They presently have a $253.00 target price on the information services provider’s stock. Citigroup Inc.’s price target would suggest a potential upside of 7.56% from the stock’s current price.
Several other research analysts have also commented on BIDU. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $205.36 price target for the company in a research report on Monday, June 12th. BidaskClub lowered Baidu from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and issued a $208.00 price target on shares of Baidu in a research report on Monday, June 19th. Finally, TheStreet lowered Baidu from a “b-” rating to a “c+” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Baidu has a consensus rating of “Buy” and an average target price of $213.36.
Shares of Baidu (NASDAQ BIDU) traded down 0.89% during trading on Thursday, hitting $235.21. The stock had a trading volume of 5,230,285 shares. The stock has a 50-day moving average price of $226.89 and a 200 day moving average price of $192.20. Baidu has a 12 month low of $159.54 and a 12 month high of $239.16. The company has a market cap of $81.56 billion, a P/E ratio of 43.37 and a beta of 1.98.
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Several institutional investors and hedge funds have recently modified their holdings of BIDU. BlackRock Inc. boosted its stake in shares of Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the last quarter. Capital World Investors boosted its stake in shares of Baidu by 54.2% in the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after buying an additional 3,419,291 shares during the last quarter. Harris Associates L P boosted its stake in shares of Baidu by 29.7% in the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after buying an additional 2,066,614 shares during the last quarter. Cambiar Investors LLC purchased a new stake in shares of Baidu in the second quarter worth about $274,670,000. Finally, Veritas Asset Management LLP boosted its stake in shares of Baidu by 37.1% in the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after buying an additional 920,687 shares during the last quarter. Hedge funds and other 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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