Baidu Inc. (NASDAQ:BIDU) was up 3.7% during mid-day trading 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 traded. The stock had previously closed at $186.37.
Other research analysts also recently issued reports about the company. Brean Capital reiterated a “buy” rating on shares of Baidu in a report on Tuesday, May 24th. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $203.76 price objective for the company. in a report on Monday, May 30th. Jefferies Group reiterated a “buy” rating and set a $203.00 price objective on shares of Baidu in a report on Tuesday, June 7th. Citigroup Inc. downgraded Baidu from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $238.00 to $180.00 in a report on Monday, June 13th. Finally, Barclays PLC downgraded Baidu to a “hold” rating in a report on Monday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $196.19.
Several institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Baidu by 2.4% in the second quarter. Macquarie Group Ltd. now owns 1,077,364 shares of the company’s stock valued at $177,936,000 after buying an additional 24,895 shares during the last quarter. KAMES CAPITAL plc raised its position in shares of Baidu by 38.1% in the second quarter. KAMES CAPITAL plc now owns 70,700 shares of the company’s stock valued at $11,675,000 after buying an additional 19,500 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Baidu during the second quarter valued at about $486,000. CI Investments Inc. acquired a new position in shares of Baidu during the second quarter valued at about $6,821,000. Finally, IFP Advisors Inc raised its position in shares of Baidu by 0.7% in the second quarter. IFP Advisors Inc now owns 2,013 shares of the company’s stock valued at $332,000 after buying an additional 14 shares during the last quarter. Institutional investors own 63.21% of the company’s stock.
The firm has a market cap of $67.94 billion, a P/E ratio of 14.44 and a beta of 2.30. The stock’s 50-day moving average is $176.34 and its 200 day moving average is $174.80.
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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