Barclays PLC Reiterates $240.00 Price Target for Baidu, Inc. (BIDU)
Baidu, Inc. (NASDAQ:BIDU) has been assigned a $240.00 price target by equities research analysts at Barclays PLC in a note issued to investors on Monday. The brokerage presently has a “hold” rating on the information services provider’s stock. Barclays PLC’s target price suggests a potential downside of 1.62% from the stock’s previous close.
A number of other research firms also recently weighed in on BIDU. UBS AG upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Jefferies Group LLC lifted their price target on shares of Baidu from $232.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 20th. OTR Global upgraded shares of Baidu to a “positive” rating in a research report on Wednesday, October 25th. J P Morgan Chase & Co decreased their price objective on shares of Baidu from $230.00 to $225.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $277.19 price objective on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $234.70.
Baidu (NASDAQ:BIDU) opened at 243.94 on Monday. Baidu has a 52-week low of $159.54 and a 52-week high of $274.97. The stock has a market capitalization of $84.59 billion, a P/E ratio of 45.22 and a beta of 1.99. The company’s 50-day moving average price is $249.58 and its 200 day moving average price is $210.35.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Grove Bank & Trust raised its holdings in shares of Baidu by 74.2% in the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock worth $106,000 after acquiring an additional 253 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Baidu in the 2nd quarter worth about $112,000. Harbour Capital Advisors LLC raised its holdings in shares of Baidu by 17,786.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock worth $117,000 after acquiring an additional 20,810 shares during the last quarter. Aviance Capital Management LLC acquired a new stake in shares of Baidu in the 2nd quarter worth about $124,000. Finally, Highstreet Asset Management Inc. acquired a new stake in shares of Baidu in the 2nd quarter worth about $146,000. Hedge funds and other institutional investors own 64.27% 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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