Baidu Inc. (NASDAQ:BIDU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “
A number of other equities analysts also recently weighed in on BIDU. Credit Suisse Group AG restated an “outperform” rating and issued a $190.00 target price on shares of Baidu in a research note on Wednesday, July 20th. Deutsche Bank AG downgraded Baidu from a “buy” rating to a “hold” rating and cut their target price for the stock from $219.00 to $201.00 in a research note on Wednesday, September 28th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a report on Wednesday, July 6th. JPMorgan Chase & Co. initiated coverage on shares of Baidu in a report on Wednesday, August 31st. They issued an “underweight” rating and a $164.00 price target on the stock. Finally, Vetr cut shares of Baidu from a “hold” rating to a “sell” rating and set a $176.40 price target on the stock. in a report on Tuesday, September 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $195.46.
Shares of Baidu (NASDAQ:BIDU) opened at 184.11 on Tuesday. The company has a market cap of $63.81 billion, a price-to-earnings ratio of 13.55 and a beta of 2.17. Baidu has a 1-year low of $139.61 and a 1-year high of $217.97. The firm has a 50-day moving average price of $182.02 and a 200 day moving average price of $175.29.
Several institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. increased its position in shares of Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock worth $100,000 after buying an additional 5 shares in the last quarter. IFP Advisors Inc increased 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 worth $332,000 after buying an additional 14 shares in the last quarter. Westport Resources Management Inc. increased its position in shares of Baidu by 1.0% in the second quarter. Westport Resources Management Inc. now owns 2,801 shares of the company’s stock worth $463,000 after buying an additional 28 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Baidu by 0.5% in the second quarter. Baird Financial Group Inc. now owns 7,508 shares of the company’s stock worth $1,240,000 after buying an additional 36 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in shares of Baidu by 0.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 10,765 shares of the company’s stock worth $1,778,000 after buying an additional 39 shares in the last quarter. 63.21% of the stock is owned by institutional investors and hedge funds.
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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