Deutsche Bank AG cut shares of Baidu Inc. (NASDAQ:BIDU) from a buy rating to a hold rating in a research report report published on Wednesday. The firm currently has $201.00 price target on the stock, down from their prior price target of $219.00.
Several other analysts have also issued reports on the stock. Vetr downgraded shares of Baidu from a buy rating to a hold rating and set a $192.71 price target on the stock. in a report on Wednesday, September 21st. Nomura reissued a neutral rating and issued a $155.00 price target on shares of Baidu in a report on Tuesday, September 6th. JPMorgan Chase & Co. assumed 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. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $188.00 price target (down from $196.00) on shares of Baidu in a report on Tuesday, August 2nd. Finally, Piper Jaffray Cos. reissued an overweight rating and issued a $180.00 price target (down from $215.00) on shares of Baidu in a report on Sunday, July 31st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $196.34.
Baidu (NASDAQ:BIDU) opened at 182.07 on Wednesday. The firm has a market capitalization of $63.11 billion, a price-to-earnings ratio of 13.40 and a beta of 2.16. The stock’s 50 day moving average is $180.95 and its 200-day moving average is $175.35. Baidu has a 12 month low of $139.61 and a 12 month high of $217.97.
Several hedge funds have recently added to or reduced their stakes in BIDU. Causeway Capital Management LLC bought a new stake in Baidu during the second quarter worth $453,930,000. Ruane Cunniff & Goldfarb Inc. bought a new stake in Baidu during the second quarter worth $430,280,000. Franklin Resources Inc. raised its stake in 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 period. State Street Corp raised its stake in 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 period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in 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 period. 63.21% of the stock is owned by hedge funds and other institutional investors.
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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