Baidu Inc. (NASDAQ:BIDU)‘s stock had its “buy” rating reiterated by Brean Capital in a report released on Tuesday.
A number of other equities analysts have also recently commented on the company. Jefferies Group reaffirmed a “buy” rating and issued a $203.00 price target on shares of Baidu in a research note on Tuesday, June 7th. Citigroup Inc. cut Baidu from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $238.00 to $180.00 in a research note on Monday, June 13th. Barclays PLC cut Baidu to a “hold” rating in a research note on Monday, June 13th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $215.00 price target (down from $235.00) on shares of Baidu in a research note on Tuesday, June 14th. Finally, Goldman Sachs Group Inc. decreased their price target on Baidu from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. Baidu has an average rating of “Hold” and a consensus target price of $195.55.
Shares of Baidu (NASDAQ:BIDU) traded up 0.29% during trading on Tuesday, hitting $184.08. The company had a trading volume of 2,132,228 shares. The company’s 50 day moving average is $181.71 and its 200 day moving average is $175.23. Baidu has a 1-year low of $139.61 and a 1-year high of $217.97. The firm has a market capitalization of $63.80 billion, a P/E ratio of 13.54 and a beta of 2.16.
A number of hedge funds have recently bought and sold shares of the stock. Causeway Capital Management LLC purchased a new stake in Baidu during the second quarter worth approximately $453,930,000. Ruane Cunniff & Goldfarb Inc. bought a new stake in shares of Baidu during the second quarter worth approximately $430,280,000. Franklin Resources Inc. boosted its stake in shares of Baidu by 126.6% in the second quarter. Franklin Resources Inc. now owns 3,706,263 shares of the company’s stock worth $612,088,000 after buying an additional 2,070,818 shares during the last quarter. State Street Corp boosted its stake in shares of Baidu by 65.9% in the second quarter. State Street Corp now owns 4,368,064 shares of the company’s stock worth $721,384,000 after buying an additional 1,735,388 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Baidu by 90.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,283,368 shares of the company’s stock worth $542,248,000 after buying an additional 1,563,274 shares during the last quarter. Institutional investors own 63.21% of the company’s stock.
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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